American Family Net Worth Nosedives 40%, Obama Approval Still 50%

According to government data, the net worth of the average American family is down almost 40 percent from 2007. In 2007, the average family’s median wealth was $126,400; by 2010, it was just $77,300. A dramatic dip in housing value accounted for much of that decline. “Recovery from the so-called Great Recession has also been particularly slow,” said the Fed.

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