The drop in household wealth of the USA was the highest for 4 years


Moscow. December 11. The net asset value of households and non-profit groups in the U.S. in the third quarter decreased by a maximum value in four years.

According to calculations of the Federal reserve system, the rate in July-September was $85,182 trillion, which is almost 1.5% less than the volume of the second quarter, which was at a record level – $86,413 trillion.

Pre-crisis peak figure recorded in the second quarter of 2007 was $66.5 billion, notes The Wall Street Journal. At the worst point of the recession in the U.S. figure dropped to $55 trillion.

The decrease in wealth of the population in the last quarter due to the falling stock price of companies ($2.3 trillion). So, the stock index Standard & Poor’s 500 index declined 6.9% during this period. At the same time real estate prices rose to $482 billion in addition, $132 billion increased the amount of money Americans on deposits and savings accounts, and the value of the bonds increased by $116 billion.

The total cost of financial assets, including stocks and pension investments, decreased by 2.4% (by $1.68 trillion), according to the Federal reserve. Non-financial assets grew by 1.8% ($529 billion).

In General, households in the third quarter belonged to 56.7% share of the residential property, compared with 56.1% in the preceding three months and about 40% in 2011.

Total adjusted debt of us households in July-September grew by 1.5% in annual terms – this is the lowest rate rise in almost two years.

The volume of outstanding mortgage loans rose by 1.6%, while debt on consumer loans, including loans for the purchase of the car and on education – 7.2%.

Total non-financial debt adjusted for seasonal factors increased by 2% in annual terms, which is the lowest pace of growth since April-June 2011.

Debt of households in the last quarter exceeded 106% of disposable income against 107% in the previous three months. This is a significant below the peak of almost 135% in 2007.