Q4 2021 Household Net Worth: The "Real" Story

Note: With the recent release of the Federal Reserve's Z.1. Financial Accounts of the United States for Q4 2021, we have updated this commentary to incorporate the latest data.


Let's take a long-term view of household net worth from the latest Z.1 release. A quick glance at the complete data series shows a distinct bubble in net worth that peaked in Q4 2007 with a trough in Q1 2009, the same quarter the stock market bottomed.

The latest Fed balance sheet shows a total net worth that is 93% above the 2009 trough. The nominal Q4 net worth is up 2.1% from the previous quarter and up 7.3% year-over-year.

Household Net Worth