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.

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.
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