By Josh Zumbrun | The Wall Street Journal
The wealth of American households climbed to a new peak in the second quarter, bolstered by rising real-estate values that more than compensated for a flat stock market.
The net worth of U.S. households and nonprofit organizations—the value of homes, stocks, bonds and other assets minus all mortgages, debts and other liabilities—climbed by $695 billion to $85.7 trillion, according to a Federal Reserve report released Friday.
The report provides a snapshot of the robustness of American balance sheets before the turmoil that struck stock markets in August.
The buildup in wealth, though, has done little to boost the overall economy.
