For most families, wealth has vanished
If you’re a typical family, you’re considerably poorer than you used to be. No wonder the “recovery” feels like a recession.
A
new study
published by the Russell Sage foundation helps explain why many
families feel like they’re falling behind: They actually are. The study,
which measures the average wealth of U.S. households by income level,
reveals a startling decline in wealth nationwide. The median household
in 2013 had a net worth of just $56,335 -- 43% lower than the median
wealth level right before the recession began in 2007, and 36% lower
than a decade ago. “There are very few signs of significant recovery
from the losses in wealth suffered by American families during the Great
Recession,” the study concludes.
http://finance.yahoo.com/blogs/daily-ticker/for-most-families--wealth-has-vanished-172130204.html
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