Saturday, July 26, 2014
American Households Lost More Than One-Third Of Value Over Past Decade
The inflation-adjusted net worth for the typical American household has declined by more than a third over the past 10 years, according to a study underwritten by the Russell Sage Foundation.
The study, conducted as part of the foundation's Great Recession Initiative, found that between 2003 and 2013, inflation-adjusted net worth for the typical household declined by 36 percent from $87,992 to $56,335. The study also found that the net worth of wealthy households increased substantially during the same period....