The latest Federal Reserve report indicates that U.S. household net worth has dropped for the seventh consecutive quarter, to reach $50.4 trillion, as stock market and house values continue to decline. Since the peak, Americans have seen 22 percent of their wealth disappear.
The Wall Street Journal:
The net worth of U.S. households fell by $1.3 trillion in the first quarter, a seventh straight decline that has seen household wealth drop by nearly $14 trillion, the Federal Reserve reported Thursday.
Household net worth fell at a 9.9% annual rate in the first three months of the year to $50.4 trillion, the lowest in more than four years. Net worth—assets minus liabilities—peaked at $64.4 trillion in the spring of 2007, the Fed said in its quarterly flow of funds report.