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  1. #1
    Atomic Punk
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    12.11.17 @ 04:37 PM
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    Default Average US Family Lost $21K in 6 Months Due To Property Values, Stock Market

    The average US household lost $21,261 of net worth this summer, the largest decline in family wealth in nearly three years.

    The drop in the third quarter, tied to falling home values and a cratering stock market, is the second straight quarter of eroding wealth, according to the Federal Reserve's quarterly report released yesterday.

    Prior to the back-to-back quarterly declines in household net worth, which wiped out $2.55 trillion of hard-earned wealth from families' ledgers, Main Street had experienced three straight quarters of growth, the report said.

    Household net worth is the value of assets like homes, bank accounts and stocks, minus debts like mortgages and credit cards.

    Consumers began this year ahead of the game with overall net worth of $511,224 per household, which dropped to $498,751 as of Sept. 30 - after an average $9,757 per household gain in the first three months of the year and a $912 decline in quarter two.

    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.

    The Fed said about half of the nation's households own stocks or mutual funds, which account for about 15 cents of every $1 of household wealth.
    "Watch what people are cynical about, and one can often discover what they lack. -- Gen. George S. Patton

  2. #2
    Atomic Punk edwardv's Avatar
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    12.16.17 @ 11:32 PM
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    What has the average family lost since 2007?
    EVH 1979: Well, actually it's not much of a vacation, because we run everything ourselves. We design our own album cover, we have to be in the office every day to sign checks - the whole corporation revolves around us. Nothing can be done without our approval. We even have photo approval.

  3. #3
    Atomic Punk Dave's Dreidel's Avatar
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    12.17.17 @ 06:08 AM
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    Well, both my jobs gave me bonuses this week, so I'm pretty happy at the moment.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

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  4. #4
    Damage your reputation seenbad's Avatar
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    12.15.17 @ 10:48 AM
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    Quote Originally Posted by voivod View Post
    [B]
    Household net worth is the value of assets like homes, bank accounts and stocks, minus debts like mortgages and credit cards.

    Consumers began this year ahead of the game with overall net worth of $511,224 per household,
    ...there is absolutely NO WAY this is ANYWHERE CLOSE to being in ANY WAY accurate.
    sheepa latta peepah dabba looka foh a moopy

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  5. #5
    carpe damn diem billy007's Avatar
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    12.16.17 @ 07:14 PM
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    yeah, move that decimal point about 5 spots to the left and you're closer to my number!

  6. #6
    Forum Frontman It's Mike's Avatar
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    12.17.17 @ 06:12 AM
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    Quote Originally Posted by seenbad View Post
    ...there is absolutely NO WAY this is ANYWHERE CLOSE to being in ANY WAY accurate.
    that number is likely national net worth (which includes corporations) divided by the number of households. At least that's my guess.

    In Canada the average household net worth is just under 200 grand and I imagine you all aren't that much ahead of us.

  7. #7
    Atomic Punk Dave's Dreidel's Avatar
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    12.17.17 @ 06:08 AM
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    Quote Originally Posted by seenbad View Post
    ...there is absolutely NO WAY this is ANYWHERE CLOSE to being in ANY WAY accurate.
    Depends on whether you look at the mean or the median.

    The mean average is roughly that, $500K. It is the mathematical average, and guys like Buffett and Gates throw it all out of whack.


    The median average is roughly a little more than S100K after the latest cliff jump. That is the net worth of the guy squarely in the middle.

    Look at it this way, you can have one guy worth $50, one guy worth $100K, and one guy worth a million. The mean is $367K, higher than two of the three guys in the sample, but the median is $100K.

    A lot of that is also subjective. At one point I was a paper multi-millionaire, but I couldn't sell the stock as it was restricted, and the company eventually went down the crapper. So, I looked good on a balance sheet, but I couldn't spend any of it.
    Taylor Swift is nice to look at. Adele can sing.

    Emperor Brett - "I can't believe you guys are analyzing song-by-song Van Halen III? What next, analyzing the script of Stroker Ace looking for some shred of Citizen Kane?"

    David Lee Roth did the impossible. He made Van Halen better. Deal with it!

    Preferred pronouns: he/him/his

    Hurricane Halen - Let's all gingery touch our sword tips!!!

    DONATE TO THE LINKS YA CHEAP BASTARDS!!!!

  8. #8
    Damage your reputation seenbad's Avatar
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    12.15.17 @ 10:48 AM
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    Yeah, I had .com stock too. lol

    They should scrap the top and bottom 3 percent for a more realistic figure if what you describe above is what they did.
    sheepa latta peepah dabba looka foh a moopy

    Gunter glieben glauchen globen

 

 

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