American family’s net worth dropped almost 40%

NEW YORK (CNNMoney) — The average American family’s net worth dropped almost 40% between 2007 and 2010, according to a triennial study released Monday by the Federal Reserve.  The stunning drop in median net worth — from $126,400 in 2007 to $77,300 in 2010 — indicates that the recession wiped away 18 years of savings and investment by families.

http://money.cnn.com/2012/06/11/news/economy/fed-family-net-worth/index.htm?iid=HP_LN

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