Saturday, December 10, 2011

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

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

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.