While the Headlines Blare Americans Lose 40% of Their Wealth, Income Decline is the Real Horror Story

Economic Populist (June 12, 2012)

 

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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