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Households' balance sheets continue to improve

Household net worth rose $4.5 trillion in the first nine months of this year, according to the Federal Reserve, driven by strong gains in financial assets and rising real estate values.

Household net worth is still about $2.5 trillion shy of its Q3/06 peak of $67.3 trillion, but the recovery from the recession lows has been significant.

Notable year to date progress (rounded):

Savings deposits +$200 billion
Corporate equities +$1,070 billion
Mutual fund shares +$900 billion
Pension fund reserves + $900 billion
Real estate +1,150 billion

No doubt about it, things are getting better.

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