The net worth of the American family fell to $77.3K in 2010, a 39% plunge from 2007 and the...

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bbro Comments (7838)
 
1.564 million net worth puts you in the top 5% of U.S. households,,,
11 Jun 2012, 04:30 PM Reply Like

GaltMachine Comments (918)
 
bbro,

Which chart/table did you find that data on?

Thanks
11 Jun 2012, 04:51 PM Reply Like

bbro Comments (7838)
 
Correction...can't read my own handwriting...1.864 million net worth
puts you in top 5%...page 18 of the PDF file
12 Jun 2012, 02:00 AM Reply Like

GaltMachine Comments (918)
 
bbro,

thank you.
12 Jun 2012, 10:18 AM Reply Like

untrusting investor Comments (9879)
 
And the Fed actually believes they are helpful? At least that is what they continually announce via the MSM and their congressional presentations.

Maybe if they just got out of the way for a decade or so, the economy and average americans might actually have a chance to get something done and actually improve their standards of living again.
11 Jun 2012, 06:56 PM Reply Like

Teutonic Knight Comments (1864)
 
I wouldn't call it wealth that was destroyed in the first place.

The housing burst was an asset bubble, with the look-and-fell like a rainbow and a mirage.
11 Jun 2012, 08:09 PM Reply Like

DaLatin Comments (1529)
 
Lets be honest folks ! Real estate has ALWAYS been location location location ! The bubble was only in a hanfull of places ! It popped in the Nv/Fl/Az's etc,but, in NY and CA areas or Boston it climbed.... The red state saps took the brunt and the rich got richer.
12 Jun 2012, 06:25 AM Reply Like

D_Virginia Comments (1675)
 
> The bubble was only in a hanfull of places

This is laughably far from the truth.

It only /didn't/ pop in a handful of places, mostly in high-end cities like NYC, LA, Boston, DC, etc.

NV/FL/AZ/CA and the handful of other walk-away states were far worse off, because of their walk-away laws, but MOST states were hit pretty hard in MOST places.

And if California is a red state, then I guess Texas is blue now? :)
12 Jun 2012, 07:29 AM Reply Like

Minutemen Comments (264)
 
I'm perfectly fine with the housing bubble pop. Rising home prices just mean more taxes. I think of my home as a place to live, not as an income or wealth generator. I also believe that net worth should be determined by financial assets minus debt, excluding home equity. If you want a real feel for household net worth, one should look at net investable assets rather than net worth.
12 Jun 2012, 08:08 AM Reply Like

RS_Gray Comments (80)
 
...translated into common, garden variety English...if our personal
property isn't contributing much to our personal financial statements
then it follows that we probably won't be remodeling many kitchens
or upgrading our plumbing fixtures....in the near term....or moving to
a nicer zip code. Back out the contribution to GDP associated with
residential housing.....new starts, repair and remodeling...and it's
tough to miss the obvious impact on jobs, revenue collection at all
levels of government as well as our assumptions about the progress
of a recovery...without a recovery in housing.


12 Jun 2012, 08:29 AM Reply Like

dividend_growth Comments (2748)
 
Why the hell is the Fed throwing out numbers from 2010?

Aren't we already in 2012?

According to Fed's latest FoF (http://1.usa.gov/LGaoHK), American households' net worth has recovered to 62866 billion dollars, less than 6% from the all time of 66166 billion in 2007.

Is the Fed trying to justify more stimuli?
12 Jun 2012, 08:54 AM Reply Like