Robert R. Rowley PS

Attorney at Law


What the Recession Really Cost American Families

What the Recession Really Cost American Families

How much did the Great Recession set back American families? One answer, provided by the Federal Reserve last week (PDF) , is 38.8 percent. That’s how much the median net worth of American families fell from 2007 to 2010 – or in dollar terms, from $126,400 to $77,300, according to data from the Fed’s Survey of Consumer Finances. The average drop was smaller, at 14.7 percent.

What the Recession Really Cost American Families.