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OFFICIAL MAGAZINE OF THE NATIONAL ASSOCIATION OF REALTORS®

Daily Real Estate News  |  March 5, 2004  |   U.S. Household Wealth Hits Record Household net worth rose from $43.58 trillion prior to the stock-market bust in 2000 to $44.41 trillion in the fourth quarter of 2003 due to robust home-price appreciation and the stock-market recovery, according to the Federal Reserve. The central bank's research also reveals that mortgage debt slowed from a rate of 11.5 percent in the third quarter to 10.5 percent during the last three months of the year, while the jump in overall borrowing slipped from 9.9 percent to 8.3 percent. Bear Stearns economists note that homeowners tapped into $491 billion worth of equity in 2003. Total equity, meanwhile, surged to $8.4 trillion as home prices continued their uphill climb.

Source: The Wall Street Journal (03/05/04); Hagerty, James R.; Lagomarsino, Deborah

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