Great Recession Average U.S. family's wealth plunged 40% in recession, Fed says

The net worth of the median American family fell to $77,300 in 2010, down nearly 40% from 2007 after adjusting for inflation, the Federal Reserve reports.
Von Don Lee
Families in the West took the biggest hit in median net worth between 2007 and 2010 as California, Nevada and Arizona saw sharp drops in home values. Above, a Maricopa, Ariz., home in foreclosure in 2009.

Families in the West took the biggest hit in median net worth between 2007 and 2010 as California, Nevada and Arizona saw sharp drops in home values. Above, a Maricopa, Ariz., home in foreclosure in 2009.

Foto: Getty Images
© Los Angeles Time 2012
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