Economic Snapshot

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

More information here.

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