Membership site now open: http://retirecheap.tv/members The average US household lost $21,261 of net worth this summer, the largest decline in family wealth in nearly three years. Stock portfolios of all Americans dropped 5.2 percent in the third quarter, while home prices slipped 0.6 percent in the period, the report said. Economists don't expect home values to rise much for a long as five years.
Consumers have failed to recover from the clobbering of home values due to the recession, which plunged to $16.1 trillion from a peak of $21 trillion in 2007 just ahead of the recession crisis, the report said.
You can read the article here: http://www.nypost.com/p/news/business/the_typical_us_piggy_bank_is_lighter_obCOfHGd6H3BSUFRiWyqLP
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