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Average US Family Lost $21K in 6 Months Due To Property Values, Stock Market

Posted By yihan On December 9, 2011 @ 9:01 am In Money Watch | Comments Disabled

New York Post [1]
Friday, December 9, 2011

The average US household lost $21,261 of net worth this summer, the largest decline in family wealth in nearly three years.

The drop in the third quarter, tied to falling home values and a cratering stock market, is the second straight quarter of eroding wealth, according to the Federal Reserve’s quarterly report, released Thursday.

Prior to the back-to-back quarterly declines in household net worth, which wiped out $2.55 trillion from families’ ledgers, Main Street experienced three straight quarters of growth, the report said.

Full story here. [1]

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URLs in this post:

[1] New York Post: http://www.myfoxdc.com/dpp/money/average-us-family-lost-21k-in-6-months-due-to-property-values-stock-market-ncxdc-120911

[2] U.S. Household Net Worth Had Record Decline in Fourth Quarter: http://www.prisonplanet.com/us-household-net-worth-had-record-decline-in-fourth-quarter.html

[3] Stock Market Has Fallen Steadily Since Bailout Bill Signed: http://www.prisonplanet.com/stock-market-has-fallen-steadily-since-bailout-bill-signed.html

[4] Home values to lose well over $2 trillion during 2008: Zillow: http://www.prisonplanet.com/home-values-to-lose-well-over-2-trillion-during-2008-zillow.html

[5] 70% Of All Stock Market Trades Are Held for An Average of 11 SECONDS: http://www.prisonplanet.com/70-of-all-stock-market-trades-are-held-for-an-average-of-11-seconds.html

[6] 35 Statistics That Show The Average American Family Has Been Broke Down, Tore Down, Beat Down, Busted And Disgusted By This Economy: http://www.prisonplanet.com/35-statistics-that-show-the-average-american-family-has-been-broke-down-tore-down-beat-down-busted-and-disgusted-by-this-economy.html

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