Monday, June 11, 2012 Family Net Worth Drops to Level of Early ’90s, Fed Says

"The median family, richer than half of the nation’s families and poorer than the other half, had a net worth of $77,300 in 2010, down from $126,400 in 2007, the Fed said. 

The crash of housing prices explained three-quarters of the loss.

This vast loss of wealth was compounded by a loss of income, as the earnings of the median family fell by 7.7 percent over the same period."

The new data come from the Fed’s triennial Survey of Consumer Finance, one of the broadest and deepest sources of information about the financial health of American families. 

The survey is based on 2010. data collected in 2010.

graphic: The Berkley blog

See the complete article at Family Net Worth Drops to Level of Early ’90s, Fed Says -

Subscribe to the Rightardia feed:

Creative Commons License

Rightardia by Rightard Whitey of Rightardia is licensed under a Creative Commons Attribution 3.0 Unported License.

Permissions beyond the scope of this license may be available at

No comments: