Extra Equity

Wealth of Americans hit a new high of $88.1 trillion in 16Q1, up from $87.2 trillion in 15Q4. The rise was driven primarily by an increase in residential real estate of $498 billion; equity prices declined $160 billion. Net worth bottomed at $54.6 trillion in 09Q1. Home equity as a percent of real estate is 58%, near the 60% it was before the recession. Total liabilities rose just $17 billion.