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FBN’s Rich Edson examines household wealth in the United States, and whether we are truly recovered in the United States.
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During that in the is is too good to be true are we finally seeing some real signs of recovery rich -- and -- all over the story down in Washington.
And he has not warm me standing outside but -- -- is better than it is here rich.
Does not snow we had that on Wednesday so happy to pass that along -- you in New York here in DC the question is are we -- look at household wealth here just about where we work.
At the onset of the recession 2007 looking at 67 point four trillion today.
At about 66.
Trillion household debt also about -- thirteen point six trail.
In October of 07 today at twelve point eight trillion so we talk to some folks.
On the streets of Washington DC and asked them what they -- are we truly back in the US and well.
It's a mixed bag.
It is you know they did and they still slow process but not knowing this immediate area metropolitan I.
And -- -- I can't speak on -- other parts of the country.
I don't feel like we're back.
My -- -- increased more than my salary is increased over the past few years.
I remember we talked to folks in Washington DC where we have weather the recession much better than other places in the country take a look here though some caveats is to some of the -- that we're creating -- stuff.
Take a look at housing prices in December 07 looking at about 207000.
Dollars for the media not existing home price.
The low was last January -- a 154000.
Dollars during the recession and now back up 273000.
600 look at equities S&P 500 Dow Jones industrials.
Both back to levels that we saw.
Highs that we saw right before the recession lots of that money though is tied up in 401 -- and housing values so it's not something that you can actually and readily.
Spend money -- so -- the mixed bag here again not necessarily fully backed special when you consider about twelve million people still out of work IT.
