The average American family lost 38.8 percent of its wealth from 2007 to 2010, with the biggest losses concentrated among households with the most assets tied to their homes, a Federal Reserve study shows.
Median net worth declined to $77,300 in 2010, an 18-year low, from $126,400 in 2007, the Fed said in its Survey of Consumer Finances. Mean net worth fell 14.7 percent to a nine-year low of $498,800 from $584,600.
Next to get smashed are all those holding long term Treasury securities, who think that is a safe haven, despite the likelihood of accelerating inflation down the road.
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1 comment:
I find it very suspect that Housing prices are pinned to the cost of food by the Dept of Commerce in generating the Consumer Price Index
Inflation at the Supermarket and in the family market basket is a statistic that would be an issue if McCain won in 2008
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