The net worth of Americans fell 40% in three years, wiping out two decades of our wealth.
Ylan Q. Mui reports for the Washington Post, June 11, 2012, that the Federal Reserve said today that the median net worth of families plunged by 39% in just three years, from $126,400 in 2007 to $77,300 in 2010.
The data, based on a federal government survey conducted every three years, represents one of the most detailed looks so far how Americans’ finances have weathered the economic downturn.
Americans lost 40% of our net worth in just 3 years
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