You are here

Citizens for Legitimate Government

For the truth you're not being told anywhere else.

CLG Breaking News and Commentary

Click here!

Contribute to CLG

Subscribe to Syndicate

Study: American Households Hit 43-Year Low in Net Worth

Study: American Households Hit 43-Year Low in Net Worth 30 Nov 2012 The median net worth of American households has dropped to a 43-year low as the lower and middle classes appear poorer and less stable than they have been since 1969. According to a recent study by New York University economics professor Edward N. Wolff, median net worth is at the decades-low figure of $57,000 (in 2010 dollars). And as the numbers in his study reflect, the situation only appears worse when all the statistics are taken as a whole. According to Wolff, between 1983 and 2010, the percentage of households with less than $10,000 in assets (using constant 1995 dollars) rose from 29.7 percent to 37.1 percent... Over that same period of time, the wealthiest 1 percent of American households increased their average wealth by 71 percent.