Median Net Worth Of American Families Down 40 Percent In Three Years

There is a chilling report out from the Federal Reserve that the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That returns American families to the wealth level of 1992.

The biggest hit were the middle class families. The wealthiest families actually saw a slight rise. The median for credit card debt did not materially change, however. Much of this decline is due to the decline in home values which remains the biggest investment for most families. Forty-seven percent of citizens do not pay taxes income taxes and 87 percent of those earn less than $20,000 a year.

These figures are remarkable since they parallel the Great Depression but we have not seen the same degree of displacement or social or political upheaval as a result. There are different theories from better public welfare programs to a new political dynamic with many lower and middle class families supporting either the Tea Party or GOP. It may also be that many families have experienced the decline but continue to hold on to their homes so that the diminishing in wealth does not manifest as sharply in their lives. Whatever the cause, the reduction in wealth has not produced a comparative political backlash that I can see.

Source: Washington Post

130 thoughts on “Median Net Worth Of American Families Down 40 Percent In Three Years”

  1. It just doesn’t get any
    better than seeing the gorgeous “Mrs. Anita Pelaez” over at her and her
    husband “Captain Kutchie’s” place..Some Folks Also Call Him..”The
    KutchMan others call him The Kutchmon!”…Most Just Call Him “The Most
    Interesting Man In The World”….(Anita and Kutchie Pelaez’s Key West, Key
    Lime Pie Factory and Grill)…Just watching the lovely couple baking together all those Yummy
    Key Lime Pies at their Key Lime Pie Factory and Grill in Asheville.
    …It’s always worth the trip to visit them in they’re Historic Key Lime
    Pie Factory and Grill…It should be on everyone’s bucket list for
    sure..And The World’s Best Key Lime Pies!..YUM-YUM-YUM….­­.”Talk About
    World Class” What An Understatement!…….AA­­HHHHH!….The Magic Of The
    Lovely..”Mrs. Anita Pelaez” And Her Delicious Key Lime Pies Baked With
    Pure Love…Always……40 Years And They’re Still Going Strong….

    ….May GOD Continue Blessing “Anita And Kutchie Pelaez” and They’re World
    Famous Key Lime Pie Factory And Grill Where The Personalities, Ovens And
    Smiles Are Always Warm And Inviting. “Kutcharitaville” You’re The Best We Love You!….

    …Now You Know Who Is The Hottest!…And Baby Let Me Tell You, Mrs. Anita Is No Act…She’s The Real Thing Baby!…

    ….Located Near The Biltmore House And Estate…..

  2. We stumbled over here from a different web page and
    thought I might as well check things out. I like
    what I see so i am just following you. Look forward to looking into your web page for a second time.

  3. ID707,

    December 21, 2012. Three, three, three. Tesla was fixated with the number three.

    The Mayans didn’t create that calendar. They were the labor, but they weren’t the intelligence.

    1. Was it to the base twenty they counted? 20 fingers and toes. And then there was forty mixed in somewhere, something to do with the apparent precession of the North star over 40 years, etc.
      Sounds good, just as yours does too. Tesla, an interesting figure.

      Connect it all the the regression of the median worth and you’ll a visit from the FED, or the feds. Do much betting on WS?

  4. bettykath, yes, NAFTA with a New World Order flavor when Multinational Corporations create their own international justice system that can over ride American laws- courts that only they can access.

  5. bettykath,

    Maybe that’s what the Mayans figured out.
    The Mayans didn’t figure out anything.

  6. Shano,

    The body would have the power to override U.S. law and issue penalties for failure to comply with its rulings.
    Good post. The fact is, U.S. law is already superfluous. It’s nothing more than subjectivity (at best). If you think it’s more than that, you’re dreaming. You might as well forget about going to law school. Wait until the 99% really does gets totally pissed off. Where is your spider hole?

Comments are closed.