US household wealth hits record $150T in 4Q21

By Ovunc Kutlu

ANKARA (AA) - US household wealth hit an all-time high of $150.3 trillion in the fourth quarter of 2021, according to Federal Reserve data released Thursday.

While the amount marked an 8.2% increase from the third quarter, it was an increase of 14.4% in the October-December period of 2020.

Household debt, on the other hand, rose 8% annually, data showed.

While consumer credit increased 6.9% year-on-year, mortgages soared 8%.

Non-financial debt stood at $65.1 trillion in the final quarter of 2021, of which $17.9 trillion is on a household level.