Household Wealth Chart
Posted By thestatedtruth.com on September 20, 2010
According to calculations from the Federal Reserve, household wealth tumbled a whopping $17 trillion during the crisis – or about 27%. Since the depths of the crisis, however, Americans have recovered about $5 trillion of household wealth. Only $12 trillion to go!
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For perspective, $12 trillion is nearly equal to one year’s US GDP. It’s not easy recovering that much wealth…especially not when the recovery operation relies heavily upon the housing market. Residential real estate accounts for 32 percent of household net worth; stocks account for a much smaller percentage. So household wealth can’t do a whole lot of recovering without a recovery in housing…and that’s not happening yet.
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