Total Household Assets
Total assets held by U.S. households and nonprofits — the broadest measure of national wealth
Key Insight
Household balance sheets have reached roughly $185T in total assets, an all-time high driven disproportionately by equity appreciation rather than new saving — concentrating wealth in the top decile and making aggregate consumption unusually sensitive to equity drawdowns.
205.6$T
Trend YoY growth is +4.8%, slowing by 9 bps/year over the last 55Y. Latest: +8.0%, 3.1 pp above trend, a 0.57σ deviation. The latest YoY reading is depressed by 2.9 pp due to an tough comparison base from Oct 1.
Level
YoY %
y = 9.9% − 9 bps/yr · t
Deviation from trend
Forecast
Projected value by forecast vintage ($T)
Projected value ($T)
| Forecast made in | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | MAPE |
|---|---|---|---|---|---|---|---|---|---|---|
| Q1 '25 | 189.6 | 204.5 | 211.0 | 213.6 | 214.4 | 224.2 | 233.5 | 238.2 | 250.3 | 60% |
| Q2 '25 | 196.7 | 209.7 | 212.3 | 213.1 | 222.8 | 232.0 | 236.7 | 247.3 | 46% | |
| Q3 '25 | 203.2 | 209.5 | 209.9 | 219.2 | 227.9 | 232.1 | 238.5 | 26% | ||
| Q4 '25 | 205.6 | 206.6 | 215.1 | 223.0 | 226.5 | 228.4 | ||||
| Q1 '26 | 206.6 | 215.1 | 223.0 | 226.5 | 228.4 |
YoY change forecast
| Forecast made in | Q1 '25 | Q2 '25 | Q3 '25 | Q4 '25 | Q1 '26 | Q2 '26 | Q3 '26 | Q4 '26 | Q1 '27 | MAPE |
|---|---|---|---|---|---|---|---|---|---|---|
| Q1 '25 | +4.0% | +10.3% | +11.2% | +12.1% | +13.1% | +14.0% | +14.9% | +15.8% | +16.8% | 60% |
| Q2 '25 | +6.1% | +10.5% | +11.4% | +12.4% | +13.3% | +14.2% | +15.1% | +16.0% | 46% | |
| Q3 '25 | +7.1% | +10.0% | +10.7% | +11.4% | +12.2% | +12.9% | +13.6% | 26% | ||
| Q4 '25 | +8.0% | +8.9% | +9.3% | +9.7% | +10.2% | +10.6% | ||||
| Q1 '26 | +8.9% | +9.3% | +9.7% | +10.2% | +10.6% |
Forecasts use ordinary least-squares linear regression fitted to the YoY change series over a rolling 3Y window. Each row shows a vintage — the forecast as it would have appeared at that point in time. Projected values apply the forecasted YoY change to the prior year's level, chaining forward where actuals are unavailable. MAPE measures forecast accuracy against realized values. These are mechanical trend extrapolations, not economic models.