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America #RichAgain: Household Wealth Reaches Record High of $1.7 Trillion

Jacob Wohl

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Rising property values, along with a rising stock market and record household income have taken household wealth to an all time high of $1.7 Trillion for the second quarter of 2017.

With the stock market adding more than $2 Trillion in value since the election of President Trump, and interest rates staying low enough for Americans to continue to buy homes, overall wealth is seeing a major pickup.

From June 2016 to June 2017, average US home prices rose 5.7% and levels of new mortgage borrowing have risen along with it, as new home-buyers bet on the trend and take advantage of historically low interest rates.

Many on the left attribute these gains to Obama. By that same logic, President Bush was responsible for the economic recovery that took place from ’09-’11.

 

Jacob Wohl is the CEO and Head of Fixed Income and Interest Rates for Montgomery Assets, a proprietary trading and asset management firm based in Los Angeles, CA. Jacob Wohl is the host of the Offended America Podcast

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