U.S. dollars are counted by a at a bank in Westminster, Colorado.
Rick Wilking | Reuters
The net worth of U.S. households climbed to new heights as 2021 began and the effects of the Covid-19 pandemic began to fade.
Thanks largely to a surge in the stock market, the total balance sheet for households and nonprofits rose to $136.9 trillion in the first quarter, a 3.8% gain from the end of 2020, according to Federal Reserve data released Thursday
Of that total, $3.2 trillion came from equity holdings, while $1 trillion was due to the continued escalation in real estate values. The S&P 500 gained 7% for the quarter as investors anticipated rising corporate earnings and accommodative fiscal and…