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Consumer Financial Health: Difference between revisions
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* Net Worth is still 23% above 2019 Q4 | * Net Worth is still 23% above 2019 Q4 | ||
* Net worth has come down 5% since all-time high in Q4 2021, driven primarily by losses in corporate equity. | |||
* The wealth effect creates the psychological effect that the increase/decrease in asset values has a direct impact on consumer spending, more importantly, real state values. However, since wealth destruction is still only 5%, and real state is still growing, this wealth effect is more likely still very limited. | |||
* | * | ||
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|7,873.46 | |7,873.46 | ||
|} | |} | ||
=== Changes in Net Wort === | |||
{| class="wikitable" | {| class="wikitable" | ||
!Quarter<ref name=":2" /> | !Quarter<ref name=":2" /> | ||
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|328.202 | |328.202 | ||
|683.21 | |683.21 | ||
|} | |||
=== Wealth By Percentile === | |||
* In the third quarter of 2022, 68 percent of the total wealth in the United States was owned by the top 10 percent of earners. In comparison, the lowest 50 percent of earners only owned 3.3 percent of the total wealth | |||
{| class="wikitable" | |||
|'''Date''' | |||
|'''Top 0.1%''' | |||
|'''99-99.9%''' | |||
|'''90-99%''' | |||
|'''50-90%''' | |||
|'''Bottom 50%'''<ref>https://www.federalreserve.gov/releases/z1/dataviz/dfa/distribute/table/#quarter:132;series:Net%20worth;demographic:networth;population:all;units:shares</ref> | |||
|- | |||
|'''1989:Q3''' | |||
|8.6 | |||
|14.1 | |||
|37.3 | |||
|36.2 | |||
|3.8 | |||
|- | |||
|'''2022:Q3''' | |||
|12.5 | |||
|18.1 | |||
|37.4 | |||
|28.7 | |||
|3.3 | |||
|} | |} | ||