The boost to wealth was driven by a $498 billion increase in residential real-estate values around the U.S.
Notes WSJ:
The new data underscores just how much American fortunes have changed since the recession that began in 2007, and occurred along with a housing and stock market crash. U.S. households lost more than $12 trillion during that period, with net worth bottoming at $55 trillion in 2009. Since then, wealth has risen by more than $33 trillion.This is absolutely not what a recession looks like.
-RW
its what stagflation looks like.
ReplyDeleteits what a central bank induced bubble looks like. look out below.
ReplyDelete