Average US Family Lost $21K in 6 Months Due To Property Values, Stock Market: NEW YORK - 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.
See original work for more on this and other stories.
No comments:
Post a Comment
Spamming will be removed.
Due to spamming. Comments need to be moderated. Your post will appear after moderated regardless of your views as long as they are not abusive in nature. Consistent abusive posters will not be viewed but deleted.
Note: Only a member of this blog may post a comment.