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Americans saw wealth plummet 40 percent from 2007 to 2010, Federal Reserve says

posted Jun 12, 2012, 9:21 AM by Prep Experts

The recent recession wiped out nearly two decades of Americans’ wealth, according to government data released Monday, with ­middle-class families bearing the brunt of the decline.

The Federal Reserve said the median net worth of families plunged by 39 percent in just three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in 1992.
 
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