Sunday, July 27, 2014

The Typical Household, Now Worth a Third Less

The Typical Household, Now Worth a Third Less - NYTimes.com:
"Economic inequality in the United States has been receiving a lot of attention.
But it’s not merely an issue of the rich getting richer.
The typical American household has been getting poorer, too.
The inflation-adjusted net worth for the typical household was $87,992 in 2003. 
Ten years later, it was only $56,335, or a 36 percent decline, according to a study financed by the Russell Sage Foundation.
Those are the figures for a household at the median point in the wealth distribution — the level at which there are an equal number of households whose worth is higher and lower."

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