Macro Update: Household Wealth Hits Record Highs as Consumer Credit Growth Lags

dv01's latest U.S. Household Macro Monitor shows net worth among the Top 1% rose 10.5% QoQ in Q2 2026, the largest quarterly percentage gain on record for any income cohort. Meanwhile, deposits declined across income groups as liquid fixed-income holdings increased, suggesting a shift toward higher-yielding assets.

Quick Insights

• Household wealth hits a record high: Net worth increased $12.5 trillion in Q2, the largest quarterly gain on record, driven largely by equities and mutual funds.
• Younger households see outsized wealth gains: Under-40 net worth has climbed to 2.7x its 2005 level, trailing only households aged 70+.
• Consumer credit remains concentrated: The top two income cohorts now hold a record 62% of outstanding consumer credit.
• Younger households pull back on borrowing: Consumer credit among households under 40 has grown less than 1% annually over four years, shifting from the second fastest-growing age group before COVID to the slowest.