A new economic report from the Federal Reserve doesn't offer much hope. On the front page of The Washington Post, Ylan Q. Mui underlined "the Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in 1992."
Furthermore, "the data represent[s] one of the most detailed looks at how the economic downturn altered the landscape of family finance.
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There is a chilling report out from the Federal Reserve that the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That returns American families to the wealth level of... Read Post
The typical American family saw 39 percent of its wealth evaporate between 2007 and 2010, my colleague Ylan Q. Mui reports today. The median net worth of families in the United States fell from $126,400 in 2007 to $77,300 in 2010 — ... Read Post
"... from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in 1992." Read Post