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.

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You can read the full report on the Fed’s Web site here.

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