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.

By: Alan

Alan Colmes is the publisher of Liberaland.