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Politics : Politics for Pros- moderated
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To: LindyBill who wrote (491129)6/15/2012 6:17:50 PM
From: skinowski1 Recommendation  Read Replies (1) of 793790
 
>>> Between 2007 and 2010, Americans' median net worth fell 38.8 percent – or from $126,400 per family to $77,300 per family. Oh, dear <<<<

I don't know the exact numbers, but assuming that there are, say, 100 million households, an average drop of about $50.000 per adds up to a total loss of about 5 Trillion dollars. That's mucho dinero. Not to mention that in many cases house prices are down, but the liabilities are still the same, gotto keep making those payments.

Oh, dear indeed.
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