SCF data show ~40% decline in Median Net Worth from 2007-2010

New SCF data came out today, which show dramatic declines in both real incomes and net worth through Great Recession.

  • Median real incomes fell roughly 8 percent. Mean incomes fell by more, likely reflecting capital gains losses from higher income groups (see Saez for more detail).
  • Median net worth fell 38.8% in the crisis, largely reflecting the consequences of excessive housing leverage, low pre-crisis net worth, substantial declines across financial markets, lower incomes and higher unemployment.

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About ozidar

I'm an Assistant Professor of Economics at the University of Chicago Booth School of Business and a Faculty Research Fellow at National Bureau of Economic Research. You can follow me on twitter @omzidar. http://faculty.chicagobooth.edu/owen.zidar/index.html
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