The Rising Influence of Rising Affluence

[winchem21]

US household net worth has been rising ~7-8% annually for a number of years
http://www.zerohedge.com/news/2016-09-16/household-net-worth-hits-record-89-trillion-there-just-one-catch

Fed's Z.1 release provides balance sheets for sectors of the U.S. economy. One key one is Table B.101, "Balance sheet of households and non-profit organizations".

In 3Q2015, the top line of the US household sector stood just under $100 trillion
• Household sector net worth was ~$85 trillion
• ~$15 trillion in household sector debts.
• U.S. household sector net worth was 34% of the worldwide total.

Assets
• $30.6 trillion in non-financial assets - $25 trillion in real estate, $5 trillion in "consumer durables", mostly cars
• Deposits were $10.4 trillion, only 10% of overall assets.
• Biggest equity line items were $20.64 trillion in pension fund entitlements,
• Directly owned stock was $12.7 trillion; mutual fund shares add $7.9 trillion.
• Small business equity adds $10 trillion in wealth,
Note: Equity assets are ~twice value of real estate which is ~twice value of deposits

Liabilities
- $14.386 trillion in debts, with 2/3rd in home mortgages - $9.46 trillion

Consumer Debt
- Auto loans outstanding at $1.071 trillion as of the end of the 2Q2016
- Student loans are up to a level of $1.364 trillion
- Revolving credit (primarily credit cards) $975 billion