You're watching...
FBN’s Peter Barnes with the latest survey from the Federal Reserve on net worth, savings and credit.
Also in this playlist...
Auto-advance: ON
Auto-advance
This transcript is automatically generated
Just released the results of its latest survey on consumer finances data bombs in DC with a -- -- Well hey Ashley we -- the Great Recession whacked families hard but now the federal or reservists showing us just how hard.
Median net worth fell nearly 39%.
From 2720.
Tend to about 77000.
Dollars from.
A 126000.
Or so according to this latest fed survey of consumer -- -- Due mainly to the drop in the value of the largest asset for most families their home.
Now the Fed has conducted this survey every three years since 1989.
It says this is the worst reading for net worth since it started the survey and brings net worth figures back to 1992.
Levels.
Median income fell nearly 8% over the three year period to about 46000.
Dollars and the percentage of families that carry credit card balances.
Declined seven percentage points to just under.
40% now some of the drop a net worth was due to the decline in the value of investments of course and retirement accounts.
But equities started rising in 2010 and they continue to rise in 2011.
Helping families recover some of their net worth but fed economists -- not comment on just how much families not net worth.
Have recovered because of the recovery in stock prices actually out some startling numbers median net -- down definitely right stampede -- Atlanta right.
Think -- upset -- -- ounces -- shock that's true.
Trying to get our house my.
