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Livin’ On A Prayer: Average US Household Net Worth Is A Staggering $692,100 As Of 2016!

This is a syndicated repost courtesy of Confounded Interest. To view original, click here. Reposted with permission.

As 1980’s big-hair, New Jersey band Bon Jovi sang, US households are “Living on a Prayer.” Or The Federal Reserve-created massive asset bubble.

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As of 2016, the mean net worth of US households was a whopping $692,000!

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Of course, The Federal Reserves zero-interest rate policy (ZIRP) and quantitative easing (QE) helped created massive asset bubbles that have helped households to historic high net worths.

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Housing is one of the recipients of The Fed’s quantitative distortion (QD).

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One indicator? Home prices are still growing almost twice as fast as average hourly earnings.

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These are no “Tiny Bubbles”.

But YUGE bubbles. Hence, American households are living on a prayer that the massive bubbles don’t burst.

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On a side note, I used to live in Rumson NJ and Jon Bon Jovi used to run by my house on the weekends (sans the big hair).

 

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