us-wealthAmericans’ wealth hit the highest level ever last year reflecting a surge in the value of stocks and homes.  A record-setting rally of +30% in the U.S. stock market drove most of the past year’s gains.

According to a Federal Reserve report released today, the net worth of U.S. households and nonprofit organizations rose 14% last year.

The Fed’s report shows that Americans have made good progress on repairing the damage caused by the housing crash and the recession (Dec 2007 – Jun 2009).  Americans have been reducing their debt loads and regaining equity in their homes.

us-wealth2Source: Wall Street Journal