You keep an eye on your money. You know things are better under President Trump. You know that you have more money to play with, and your neighbors probably do, too.
The quarterly Fed report shows that American wealth rose more than 2-trillion dollars in the final three months of 2017. That was due to the market and its performance, plus rising property prices. Vance Ginn, an economist with the Texas Public Policy Foundation, tells KTRH you can trace all of this to Trump.
“That goes back to the third quarter of 2016 where you started to see this rise in personal income growth. That is right about the time Trump was elected,” Ginn stated.
As for the average household net worth -- the value of assets minus liabilities -- in Houston it's 415 thousand dollars. Ginn says that's no surprise either.
“It continues to increase over time, especially last year, when you saw oil and gas start to expand again, along with rising stock prices overall,” Ginn explained, adding that Houston's economy is doing pretty well and continues to expand.