Headlines Blare Americans Lose 40% of Their Wealth Yet Income Decline is the Real Horror Story, by Robert OakQuicklink submitted by Ethan Hollow Permalink
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|The Federal Reserve released a report, the 2010 Survey of Consumer Finances. This is a report on household wealth from 2007-2010, removing effects of inflation. No surprise, median net worth declined by 38.8% from 2007 to 2010 and is down to 1992 levels. Why this should be no surprise is due to the housing bubble and declining home values. A home is the largest asset many people have.|
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