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Why it is not just the housing market collapse is to blame for the steep drop in Americans -- work.
The stock market had a big hand -- that declined to eight that -- Adam Shapiro is -- with that -- story.
And let's hope that by 2040 are stocks we'll have recovered let's get right into this because this is a new Census Bureau report -- crunching data and gonna keep it very simple the bottom line on all of this.
Is that obviously we all took a hit in our investments not just the loss of equity in our homes but also the loss of value in our assets in equities and here's what we're talking about.
Take a look at where we stand right now since the peak of the stock market in 2007 were still down 10%.
What this Census Bureau is showing us is that -- net worth between 2005 and 2010.
Actually fell when you include stocks as well as our equity in our homes fell from a 102844.
Bucks to 66740.
Dollars and what he's attract everything.
And just look at equities from 2005 to 2010.
We fell 24 from 24600.
It's not a 28% drop not adjusted for inflation.
The drop in income net median income worth rather.
-- a 35% drop but that's adjusted for inflation not adjusted for inflation is about 20% bottom line Dennis and -- We took a hit were recovering but when you take out what everyone says what was because we lost equity in our -- -- is because we lost equity in our homes.
And in our -- -- it can come back Adam Shapiro thanks very much when he forty okay.