News Summary: US regains wealth, but not equally

News Summary: US household wealth rebounds from recession, affluent benefit most

Associated Press

WEALTH REGAINED: America has regained all the household wealth it lost in the Great Recession and then some, thanks to higher stock and home prices. But the average household still has a long way to go.

RECOVERY: Household wealth jumped $3 trillion to $70 trillion in the January-March quarter. That topped the previous peak of $68 trillion in the third quarter of 2007, just before the recession began.

RICH RICHER: Yet because of inflation and a rising population, the average household has recovered only about 63 percent of the wealth it lost. Affluent households benefited most from higher stock prices.

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