06/12/2012
Federal Reserve Says Nearly 20 Years Of Accumulated Prosperity Has
Been Erased
The recent financial crisis has left the median American family in
2010 with no more wealth than they had in the early 1990s.
The median family, richer than half of the nation�s families and
poorer than the other half, had a net worth of $77,300 in 2010, down
from $126,400 in 2007. (The crash of housing prices accounted for
three-quarters of the loss.)
This vast loss of wealth was compounded by a loss of income, as the
earnings of the median family fell by 7.7% over the same period.
