Feeling wealthy?

From Dow Jones:

Home Prices Help Lift U.S. Household Wealth to Record

The net worth of U.S. households set a record of $89.1 trillion in the second quarter, driven by a buoyant stock market and a steady resurgence of home prices.

Increases of nearly half a trillion dollars each in the value of U.S. stocks and the aggregate value of household real estate contributed to the record, according to the Federal Reserve’s quarterly report measuring the aggregate wealth of U.S. households and nonprofit organizations.

Household net worth is the sum of all assets, such as homes, stocks, bonds, vehicles and cash, minus all debts like mortgages, credit cards, student loans and auto loans.

The data underscores the U.S. economy’s round-trip over the past decade. Home prices peaked in 2006 and stocks peaked in 2007. Both crashed sharply as the U.S. plunged into the longest recession since the Great Depression, beginning in late 2007.

But prices have gradually rebounded in recent years. Stocks began to climb sharply in 2009 and by 2013 had reached a new peak, based on the Dow Jones Industrial Average. The recovery in home prices started later and took longer, but now, in aggregate, American housing wealth is gradually approaching its precrisis peak.

“The winners in recent years aren’t the same people who lost out in the crash,” said Ian Shepherdson, chief economist at Pantheon Macroeconomics, before the report.

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48 Responses to Feeling wealthy?

  1. Grim says:

    Yeah me neither

  2. Alt-rich (the good one) says:

    that’s cause you fools didn’t go Trump University
    everyone who went there go very rich

  3. 1999-2000 Was the US earnings zenith for most people.

  4. D-FENS says:

    What’s going on with this bomb in seaside park?

  5. Here’s my theory on the pipe bomb perp: Not a Jew.

  6. Comrade Nom Deplorable, Member of the Resistance says:

    Expat,

    Probably not former military either. I’d wait for Obama or Clinton to address it but I can’t hold my breath that long.

  7. I’m not afraid, and I don’t think other people should [be] either. You know, I was sitting in the office right next to you last week. You know, we all have a stake in this, this is our country and the balance of power between the citizenry and the government is becoming that of the ruling and the ruled as opposed to, actually, the elected and the electorate.

  8. Joyce says:

    Seaside Park police Chief Francis Larken said all residents will be able to return to their homes as of 6 p.m. Residents in the area of C, D and E streets near the beachfront will have to show identification, Larken said.

    Seaside Park explosive device press conference
    The beaches in that area and Ocean Avenue will also be closed “until further notice,” Larken said.
    http://www.nj.com/ocean/index.ssf/2016/09/no_suspect_in_custody_after_explosion_of_device_in.html#incart_2box_nj-homepage-featured

    Terrorists keep on winning

  9. D-FENS says:

    Yeah sure. No big deal. Shows you what his opinion is worth.

    @natesilver538

    There’s really not a lot to see/hear. Just saying: scale of this seems modest on the scene, not major-international-incident type of thing.

  10. Mc Box says:

    That dumpster bomb has to be ptreey big to do this.

    https://mobile.twitter.com/FoxNews/status/777312408838692865

  11. Grim says:

    Well thankfully they were dumb enough to put the bomb into a dumpster, which probably saved lives and prevented more serious damage.

  12. Grim says:

    12 gauge steel acted like armor plating, absorbing the blast through deformation.

    Did the bomber expect the dumpster to be fragmented and become shrapnel? Highly unlikely. More realistically, was that the dumpster shell confined nearly all of the shrapnel, or deflected it upwards.

  13. Mc Box says:

    Cuomo deploys National Guard in NY.

  14. walking bye says:

    ISIS did take credit for the Minnesota mall attack yesterday that injured 8. So at least we can close that case. Wonder if these two bombings will bury that news in the back pages.

  15. Anon E. Moose, Second Coming of JJ says:

    Twitdiot;

    that’s cause you fools didn’t go Trump University
    everyone who went there go very rich

    What do you have to say to every barrista and bike messenger who took guaranteed government loan (not dischargeable in BK) to fund hundreds of leftist ivory tower reeducation camps?

    The problem you are intentionally blind to is that there’s nothing you can say about “Trump University” past the name “Trump” that isn’t also true of scores of not-for-profit third tier toilet liberal arts colleges all across the country. But they’re leftists, and you have no enemies to the left — a time-worn communist tradition.

  16. Anon E. Moose, Second Coming of JJ says:

    ExPat,

    Funny how the media have successfully buried the story about the IED that blew off some tourist’s foot in Central Park on Memorial Day weekend. As your article points out, terrorism at home is bad for Illary. That’s why she (and her sycophants at the NY Daily News Pennysaver) are hoping the blast was a gas leak — the pipe bomb at the shore, too.

    Terrorist bomb going off at Jersey Shore could be the one thing that turns the Garden State purple.

  17. At a dinner party I was talking about the inflated cost of college and how worthless some degrees are. I posed what I thought was a logical question that illustrated the point of diminishing returns, “What if the price of a college education rose to $600,000?” The first answer (from a friend’s wife), “Well…they still have to go.”

    What do you have to say to every barrista and bike messenger who took guaranteed government loan (not dischargeable in BK) to fund hundreds of leftist ivory tower reeducation camps?

  18. I think CNN is the new “must see” TV. The Clinton News Network, now third in the cable news ratings for two months (behind Fox News, and MSNBC, both of which the used to lead) is the best comedy on TV. They have to slam Hillary, because they lost their lead by pretending she was flawless, to the point that all of their reports are just outright hilarious. They remind me a little of Red Sox sports coverage post 2004. Red Sox fans and sports coverage used to have an established franchise as multi-generational losers and then, all of a sudden, they were world champions. It took years for them to adjust.

  19. I laughed out loud when someone on a panel on CNN criticized Trump for not having a press conference in the last 51 days.

  20. New York Chelsea blast – pressure cooker, cell phone IED. Definitely not a Jew.

  21. de Blasio is an impotent turd.

  22. Anon E. Moose, Second Coming of JJ says:
  23. “At this point, what difference does it make?” Hillary probably thinks 9/11 was just a couple of guys out for a walk who decided to kill some Americans.

    BREAKING: NYC blast IS Terrorism. So says NYPD, not de Blasio.

  24. Blowhard Gov Cuomo (shades of Clinton): “It depends on what you call an act of terrorism”

  25. Anon E. Moose, Second Coming of JJ says:

    Trump calls it a “Bomb”; Hill camps and media go nuts. Illary says “bombings”, crickets.

    Trump, Clinton quickly refer to New York blast as bomb; Trump takes brunt of media criticism

  26. Grim says:

    Bomb is a bad word now?

  27. joyce says:

    The past few days aside… Yes, the definitions of words matter. Expat, how do you define terrorism? What criteria are differentiating factors between [attempted] murder and terrorism? The background of the perpetrators; the intended victims; the weapons used; the size of damage or number of victims??

    The Original NJ ExPat says:
    September 18, 2016 at 1:06 pm
    Blowhard Gov Cuomo (shades of Clinton): “It depends on what you call an act of terrorism”

  28. Grim says:

    Radical Americanism no doubt

  29. Boston’s NBC is carrying wheelchair rugby right now. Bizarre. The players have different point values based on how disabled they are.

  30. Joyce says:

    Common sense goes by the boards if we panic at terror threats like the one in Seaside

    http://www.nj.com/opinion/index.ssf/2016/09/common_sense_goes_by_the_boards_if_we_panic_becaus.html

    (Selected excerpts):
    In the bomber’s wake he left panic. In Point Pleasant Beach 10 miles to the north the annual Festival of the Sea was abruptly canceled.
    One friends of Stewart’s I got talking to said he knew vendors who were stuck with hundreds of pound of fresh fish and lobster.
    Meanwhile just down the block from the firehouse in Seaside Heights, the barbecue festival was going on as if nothing had happened a mile to the south.

    I was glad to see the authorities hadn’t panicked and shut down Seaside Heights as well.
    It’s easy for officials to take the “better safe than sorry” approach and just put a whole huge area off-limits to cars and pedestrians.
    But that gives the terrorists what they seek to achieve – which is of course terror.

  31. Alt-right (the good one) says:

    @mattyglesias

    Trump is Trump and always will be but this weekend a much wider circle of Republicans debased themselves on his birthed revisionism.

  32. Alt-right (the good one) says:

    @jbarro

    It will be quite a twist when we learn Barack Obama was born in Chile.

    Who saw that coming?

  33. D-FENS says:

    I’m thinking this was Amish terrorism.

  34. Essex says:

    Cuomo mobilizes the Chelsea Army.

    Olive Drab for everyone! Natch,

  35. Essex says:

    Let’s be grateful they sent the ‘B’ team or this was someone locally who just wanted to say something to the Country. Sucks either way. But damn.

  36. Anon E. Moose, Second Coming of JJ says:

    Twitdiot [16:27];

    Whatever it takes to change to topic off Illary and her failed policies on terrorism, right?

  37. D-FENS says:

    @immigrant4trump
    Note: McCain received 4% of the black vote (2008). Romney 6% (2012), Trump 20% in New Poll Today, #Trump2016

  38. Ben says:

    So…the big issue is not why did this happen, not how are we going to catch the person who did it…the big issue is that you called it a bomb.

  39. Steamturd thinking Cankles should be included in the hyper incarceration says:

    Joyce says:
    Common sense goes by the boards if we panic at terror threats like the one in Seaside.

    Exactamundo. Be transparent and let the public decide if they want to attend or not. The minority understands the odds. The majority…well, they play the lottery.

  40. Steamturd thinking Cankles should be included in the hyper incarceration says:

    I like to read this periodically. It should be required reading on every September 11th.

    http://www.aljazeera.com/archive/2004/11/200849163336457223.html

  41. Steamturd thinking Cankles should be included in the hyper incarceration says:

    Not sure you will catch the seaside bomber. The city bomber…that guy is a true amateur.

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