Stock market surge lifts US household wealth to $92.8T
WASHINGTON (AP) — The stock market's rise to record levels fueled a big increase in U.S. household wealth in the final three months of last year.
[...] according to a paper released earlier in December by Saez, Zucman and Thomas Piketty, the richest 1 percent of Americans derive more than half their income from capital assets such as homes, stocks and bonds, as well as their share of pension savings.
U.S. household wealth fell sharply in the Great Recession as home prices and financial markets plummeted, wiping out more than $11 trillion in asset values.