U.S. household wealth back to where it was in 2007

03/10/2013 | Washington Post, The

U.S. households have regained the US$16 trillion in wealth they lost during the economic meltdown, according to the Federal Reserve. The gains, however, have accrued mainly to upper-income Americans due to a soaring stock market while rising home prices have contributed to much smaller gains for homeowners in the lower classes. Given the disproportionate recovery in wealth, analysts warn that the milestone might not herald a sharp resurgence in consumer spending.

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