Americans Fight to Earn Back Wealth Lost During Recession
Charleston Gazette › September 20, 2010
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Summary
WASHINGTON - Americans' long journey to regain the wealth they lost in the recession is stalled.
Households failed even to run in place during the April-June quarter as sinking stock prices eroded wealth. Stocks have since recovered about two-thirds of those losses. Based on last quarter's data, household net worth would have to surge 23 percent to reach its pre-recession peak.See the full content of this document
Extract
Americans Fight to Earn Back Wealth Lost During Recession
Net worth - the value of assets like homes and investments, minus debts like mortgages and credit cards - fell 2.7 percent last quarter, or $1.5 trillion, the Federal Reserve said Friday. It now stands at $53.5 trillion.
That's above the bottom hit during the recession, $48.8 trillion in the first quarter ...See the full content of this document
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