By Gabriel Chen

HOUSEHOLDS in Singapore have generally weathered the financial crisis well, with net wealth rising to an all-time high of $1 trillion as at end September after slumping to $895 billion in the first quarter of the year.

The record figures, which were released in the Monetary Authority of Singapore's (MAS) annual Financial Stability Review on Monday, go a long way to explain why the recession that has just ended seemed less painful than previous downturns.

The recovery in the stock and property markets since the first quarter is one reason, but Singaporeans are also richer as they saved, invested and paid their debt.

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