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Obama's Great Depression: Americans' net worth plunges 40% in three years

 
DoorBert
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06/12/2012 07:19 AM
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Obama's Great Depression: Americans' net worth plunges 40% in three years
Brutal Recession Destroyed Americans' Wealth, Net Worth Down 40% In 3 Years

Just how bad have the last three years been for some Americans? A Fed survey has some brutal data today showing that both median family income and net worth dropped dramatically over the last three years.

The median family net worth dropped a staggering 40% to $77,300 in 2010 from $126,400 in 2007, the Fed said in its Survey of Consumer Finances which is released every three years. The median family income dropped as well from $49,600 in 2007 to $45,800, or a 7.7% drop.

Middle-class families faced the brunt of the declines with those in the 60th to 80th percentile of income seeing a 40.4% drop in net worth from $215,700 to $128,600. Families with a net income in the the 20th to 39.9th percentile of income saw a 35.4% drop in net worth from $39,600 to $25,600.

[link to www.forbes.com]
DoorBert (OP)

User ID: 870568
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06/12/2012 07:22 AM
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Re: Obama's Great Depression: Americans' net worth plunges 40% in three years
Will you still be working when you’re 80?

[link to www.wnd.com]
DoorBert (OP)

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06/12/2012 07:56 AM
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Re: Obama's Great Depression: Americans' net worth plunges 40% in three years
Family Net Worth Drops to Level of Early ’90s, Fed Says

[link to finance.yahoo.com]

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