According to a survey of family finances from the Federal Reserve, called the Survey of Consumer FInances, which showed that much of the drop in net worth from 2007 to 2010 (the survey is done every three years) reflected the collapse of the housing market, which drove down home values, USA Today reported.
How much did Americans' wealth shrink thanks to the Great Recession?
How much did Americans' wealth shrink thanks to the Great Recession?
Answer: median net worth declined from $126,400 in 2007 to $77,300 in 2010
According to a survey of family finances from the Federal Reserve, called the Survey of Consumer FInances, which showed that much of the drop in net worth from 2007 to 2010 (the survey is done every three years) reflected the collapse of the housing market, which drove down home values, USA Today reported.
According to a survey of family finances from the Federal Reserve, called the Survey of Consumer FInances, which showed that much of the drop in net worth from 2007 to 2010 (the survey is done every three years) reflected the collapse of the housing market, which drove down home values, USA Today reported.
