Americans' wealth hits $148.8 trillion in first quarter

The net wealth of households in the US increased by 2 percent in the first quarter of this year, reaching $148.8 trillion. The US Federal Reserve (Fed) published the "Financial Accounts of the United States" report for the January-March period. Accordingly, the net wealth of households in the country was recorded as $148.8 trillion in the first quarter of this year. Household wealth, which increased by 2 percent in the first quarter of the year compared to the previous quarter, decreased by 2.5 percent compared to the same period in 2022. After reaching a record level of $152.6 trillion in the first quarter of last year, household net wealth in the US decreased to $147.2 trillion in the second quarter and $144.2 trillion in the third quarter. Americans' wealth was $145.8 trillion in the last quarter of the year. In the first quarter of this year, the value of stocks increased by $2.4 trillion, while the value of real estate decreased by $600 billion. The increase in American household debt slowed from 3.3 percent to 2.2 percent in the first quarter of this year. During that period, consumer loans increased by 4.3 percent and mortgage debt increased by 2.5 percent.