WASHINGTON (AP) — U.S. household net worth jumped $1.3 trillion in the spring, fueled by gains in home and stock values.
The Federal Reserve says net worth rose to $74.8 trillion in the April-June quarter, up 1.8 percent from the first quarter. Home prices and stock markets have risen further since then, suggesting that Americans' net worth is now even higher.
The gains in wealth haven't been evenly distributed. Home ownership has declined since the recession, particularly among lower-income Americans. And the wealthiest 10 percent of households own about 80 percent of stocks.
Americans' wealth bottomed at $57.2 trillion in 2008 during the Great Recession. It's since risen $17.6 trillion.
Household wealth, or net worth, reflects the value of assets like homes, stocks and bank accounts minus debts like mortgages and credit cards.
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An eight-year-old boy was shot Thursday morning in Cattaraugus County. Officials are at the scene on West Road, in Leon.
There is another Lake Effect Snow Warning in effect for Erie, Wyoming, Chautauqua and Cattaraugus Counties from Thursday through early Friday.
Lake Effect Snow Warnings return today with the chance for an additional foot for some areas.
A 26-year-old male employee of Ying's Wings and Things told police that Haibo Jiang, also known as Jimmy Ying, choked him until he passed out.
A Good Samaritan died Wednesday while trying to assist the driver of a tractor trailer who got stuck in the snow.
Viewers sent in photos from the snowfall around Western New York.