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The stock market has also surged this year, pushing the Dow Jones industrial average this week to a record high. And a housing recovery has helped lift home prices. A separate Fed report Thursday showed Americans have regained the wealth they lost to the Great Recession and are increasingly taking on more debt. Household wealth increased to $66.1 trillion in the October-December quarter, the report noted. That's about 98 percent of the pre-recession peak. Household debt rose 2.4 percent, the sharpest gain in nearly five years. The increases in stock and home prices since then mean Americans' net worth has now topped the pre-recession peak of $67.4 trillion, private economists say. Wealth had bottomed at $51.4 trillion in early 2009. Household wealth, or net worth, reflects the value of assets like homes, stocks and bank accounts minus debts like mortgages and credit cards.
[Associated
Press;
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