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American Families’ Net Worth Down 39% Between 2007 And 2010
The decrease in home values has driven down the net worth of American families.
The median family’s net worth fell 39% between 2007 and 2010 — the biggest decline on records dating to 1989, the Fed said.
Median net worth, the value of a family’s assets minus its debt, plunged to $77,300 in 2010, a level last seen in 1992, according to the Fed’s Survey of Consumer Finance.
