After going thru house market crash and recession, U.S. economy is climbing back to its former glory, the Federal Reserve reported Thursday.
U.S. household net worth inclined by $3 trillion, to $70.4 trillion. This is the all time high record; previous all-time-high record before recession was $68 trillion in 2007.
This sudden increase of net worth does not necessarily mean that U.S. economy is recovered, however, this is a good sign.
The average household recovered about 63% of the wealth lost during recession, so it will still take some time to recover back.
reporter
Park Sae-jin
swatchsjp@ajunews.com
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