Bloomberg news today published a short, extremely interesting overview of the United States economy. Here are the main points.
- Net worth for households and non-profit groups decreased by $2.45 trillion
- The value of household real estate decreased by $98.3 billion in the third quarter
- The volume of outstanding home mortgages was $9.93 trillion at the end of the second quarter, the lowest since the end of 2006
- The value of financial assets, including stocks and pension fund holdings, held by American households decreased by $2.78 trillion
- Americans borrowed more to buy cars and other goods
- Consumer spending had slowed through October