US household wealth fell again for third straight quarter

US household wealth fell again for third straight quarter

The carnage continues.

'U.S. household wealth fell by $400 billion in the third quarter as a drop in U.S. stock prices outpaced gains in real estate values, a Federal Reserve report showed Friday.'

Down nearly $7T over the last three quarters.

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BTFD

How much more can we take?

None of this had to happen.

How will you handle this continuing loss of household wealth?

 

I personally think we should be looking more at wage levels than stock market prices.

Stock markets prices are an expectation of future business profits. Yes, that is an indicator of the health of the economy, but there can also be some push-pull relationship between stock market prices and wage levels. There are all sorts of things that can push stock market prices up but not be good for normal people living standards.

Some of the decrease in household wealth may be due to lowering home prices, which many people could argue is mostly not a bad thing. Rising interest rates make it more difficult to borrow, which eventually results in less money being bid trying to buy homes, and home prices falling.

But I think inflation has been another factor eating away at U.S. household wealth, especially so for the less wealthy.

 

Is less wealthy the new polite way to say impoverished?

 

the poorest american is wealthy by many standards.

 

Very true, yet, still very hungry by American standards.

Should we judge a country by how they treat their most advantaged, or most disadvantaged?

 

compare the criminal justice devoted to say trump or oj as compared to the homeless.

 

Countries that have more poor people tend to treat them worse.

that topic discussed here: The Paradox of Poverty

 

It is still $12 trillion higher than when your guy was thrown out of office and $27 trillion higher than the peak before the pandemic. That's some "carnage". Of course, you conveniently left out this little detail, deceptively starting your graph at the peak. That's how the mindless "Biden did this" propagandist crowd rolls.

 

We should place our concern first with those who neither own stocks nor property. It is this group within which children may go to bed hungry, important medical treatment may be put off for lack of money, and debt crush hopes of upward mobility.

Matthew 25:40-45

Regards, stay safe 'n well.

 

Fake news. It's not $12T higher than when Trump left, and I charted from the DROP which continues. Over Biden's first 7 quarters household net worth has grown less than 5% which, well lags inflation.

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But, you want the Serfs to be silent and shout only praise to Kackles and Grandpa Felony Fingers.. Unfortunately for you, we all remember what REAL prosperity was like before the election was rigged and Kackles and Grandpa Felony Fingers started driving the economy for the cliff.

The Golden Age of Trump when Household wealth was grown 5 times faster than inflation.

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How the Woke Authoritarians sneer, and their anger begins to boil when they see the Working and Middle Class experience actual sustained real growth and prosperity. Well, they sure as hell stopped that!

But, we're going to get it back!

 

I think a lot has to to with household wealth. A lot of middle class people have wealth in 401k's and home ownership. 401k values have crashed with the stock market and the housing market has stalled, even in the midst of inflation.

 

DJI 1/22/2021: 31000
DJI yesterday: 33500

So, where is the crash of the stock market? Must be just in the imagination of conservatives.

Now, of course the stock market has retreated from the previous highs under Biden. However, show me ONE conservative president under whom the stock market never corrected. In fact, the last three major crashes occurred under a Republican White House. So, where is that silly notion coming from that the stock market goes up, up, up under conservatives, and crashes under Democrats? It's clearly not rooted in reality, even though Trump tried hard to peddle this kind of theory.

 

I was making a general comment about household wealth, but for you this is about Trump Trump Trump.

It's like a sickness.

 

I am just sticking with the tone of the thread, which is based on conservative doom and gloom propaganda with the sole purpose to bash Biden. I wonder why you didn't criticize the OP?

 

It's mostly the deflation of the housing market. Since I, like more homeowners, have no plan to sell my house or us it as collateral I'm not worried at all.

 

Tesla stock fell biggly, that can't help

https://www.barrons.com/articles/tesla-stock-price-china-production-ev-51670503194

 

Reporting a proven trend is "Republican doom and gloom"? It's a concern to anyone who bought a house in the last few years and are going underwater on home value.

 

The Stock Market is down nearly 20% this year.



Housing is dropping now, but for the year it's up 6.5%, but, as prices fall further, and they have been falling for 5 months they will becoming a bigger and bigger part of the total loss of wealth being experienced by the American People.

 

Our home is worth double what is was when we bought in 2016, but 2/3 what it was worth two months ago.
I’d say current value seems more accurate.

 

Yeah, that happened a lot here in San Diego. Bumped up rents as well.

 

the feds are raising rates to cool the Biden economy, it's too hot

under Trump they dumped money into the economy to keep it afloat

 

Conservative doom and gloom is part of being conservative!

 

what sickness? Trump Devotion Syndrome?

 

Yawn

 

Exactly....