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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 
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.
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