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player ready...Americans grew wealthier for a second consecutive quarter in the third quarter, thanks to gains in stock investments and home values.
Net worth — the value of assets such as homes, bank accounts and investments, minus mortgages, credit cards and other debts — rose 5 percent from the second quarter, to $53.4 trillion, the Federal Reserve said.
Even with that gain, Americans’ net worth remains far below the revised peak of $64.5 trillion reached before the recession began.
And many analysts don’t expect a repeat of the strong second- and third-quarter gains any time soon.
Investments delivered the biggest boost in the quarter. The value of corporate equities jumped $1.04 trillion, slightly less than the previous quarter’s rise.