"over the 2007-2010 period
median net worth fell 38.8 percent"
to a level " not seen since the 1992 survey"
boing !!
"the median for the lowest quartile of net
worth fell from $1,300 to zero—a 100 percent decline;
the mean for the group fell from negative $2,300 to negative $12,800.
, median net worth for the second quartile fell 43.3 percent.
. For the 75th-to-90th percentile group, the median fell 19.7 percent
For the wealthiest decile, deline was 6.4 percent "
yup inequality sharpened during the great contraction and stag
"Although declines in the values of financial assets or business were
important factors for some families, the decreases in median net worth appear to have been
driven most strongly by a broad collapse in house prices"
...another lesson in the hazards of socially engineeered mushroom wealth gimmicks
much much else here worth a quick read http://www.federalreserve.gov/pubs/bulletin/2012/pdf/scf12.pdf
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