Since “the Great Recession”, many American households have not recovered their former net worth.
Households in the upper 7 percent (households with a net worth above $836,033) saw their net worth INCREASE by 28%. The remaining households in the lower 93% net worth dropped by 4 percent (to roughly $134,000).
Stated simply, affluent households typically own stocks and other financial holding that increased in value (since 2009) and less wealthy tend to have more of their assets in their homes which have not rebounded.
To read more go to: Pew Social Trends.
Great Barrington, MA