U.S. household net worth climbed to a record in the third quarter as home prices marched higher and the value of stocks and mutual funds surged, boosting the economic outlook.
The Federal Reserve said Monday net worth increased $1.9 trillion to $77.3 trillion in the third quarter, the highest level since records started in 1945.
The value of residential real estate rose by $428 billion between July and September, and corporate equities and mutual funds were up by $917 billion over the period, it said.
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