Household net worth continues to rise, reaching record highs in the first quarter of 2024. Total financial assets increased by $349.3 billion to $10,022.2 billion. Canadian households also saw a growth in net worth by $548.2 billion to $16.9 trillion, attributed to strong equity markets and home values. US households have the highest stock allocation in history, with the S&P 500 hitting its 31st all-time high of the year.
GOLDMAN: “.. Household wealth remains above its 2019 level across the income distribution.” Lower-income household “cash balances are roughly in line with their 2019 levels as a share of income, and we estimate that their net worth is roughly similar to 2019 as a share of… https://t.co/abSG4cgSNj
Canadian households were wealthier on average in the first quarter of 2024, per Stats Can. Net worth, or the value of all assets minus debt, climbed by $548.2 billion — about three per cent — to $16.9 trillion, driven by strong equity markets and a rebound in home values.
Ned Davis points out that US Households have the highest stock allocation in history. Note, the S&P 500 closed at its 31st all-time high of the year [last] week, on pace for one of its best years ever. h/t @Jefferies https://t.co/twaN7eTUD6
Total household wealth is close to an all-time high https://t.co/csCWwx8pB8
Household Balance Sheets Remain Stronger Than in 2019 Across the Distribution https://t.co/MFGxRgWmhy
Total household wealth is close to an all-time high, and the sector’s financial balance remains healthy https://t.co/oNYr8XQlhB
It's extremely hard to get a recession when household net worth is growing "Overall, households' total financial assets in the first quarter increased 3.6% (+$349.3 billion) to reach a record high ($10,022.2 billion) for the second consecutive quarter" https://t.co/MZil05WbhS https://t.co/mqLT6wyIym