US Households Face Biggest Decline in Net Worth Since the Financial Crisis

Household net worth in the US fell at levels not seen since the Great Recession, according to Federal Reserve data.

Net worth at the end of 2018 was at $104.3 trillion, a drop of $3.73 trillion from the quarter before, amounting to a 3.4 percent drop.

The move was the second highest quarterly drop since the Federal Reserve began tracking the statistic.

The fall in net worth came during a quarter when GDP increased 2.6 percent.

 

 

Photo: “my neighborhood” by woodleywonderworks is licensed under CC BY 2.0

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