America's Net Worth Tanked After Recession

Ad Feedback

A Federal Reserve survey revealed the average American family's net worth took a nose dive because of the recession.

New government data indicated the median net worth went from about $126,000 in 2007 to $77,000 in 2010.

The recession officially began in December 2007 and ended in June 2009. But the latest numbers put family finances back to what they were in 1992.

Net worth takes into account the value of assets like homes, bank accounts and stocks, minus debts like mortgages and credit cards.

Analysts said the net worth decline is another sign of the ongoing impact of the Great Recession, even after it has ended.

Log in or create an account to post a comment.  

CBN IS HERE FOR YOU!

Are you seeking answers in life? Are you hurting? Are you facing a difficult situation?

Find peace with God, discover more about God or send us your prayer request.

Call The 700 Club Prayer Center at 1 (800) 823-6053, 24 hours a day.

A caring friend will be there to pray with you in your time of need.

CBNNews.com

CBNNews.com

CBN News is a national/international, nonprofit news organization that provides programming by cable, satellite, and the Internet, 24-hours a day. Follow us on Facebook, Twitter, and Google+.