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Household Net Worth Rises

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FUNNY, WE DON'T FEEL RICHER
"A quarterly Federal Reserve report Thursday said U.S. households' total net worth climbed 1.3% in the fourth quarter, to $54.18 trillion from the third quarter's $53.49 trillion. For 2009 as a whole, net worth rose 5.4%. Household net worth is assets, such as home equity, minus liabilities, such as mortgage debt. A large chunk of the increase in net worth came from a drop in household debt, as an increasing number of financially stretched consumers defaulted on mortgage and credit-card debts," the WSJ reports.

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