Thursday, June 14, 2012

Northeast Leads in Wealth

Regional differences in household net worth broadened between 2007 and 2010 as households in the West lost most of their wealth. The declines were smaller in the other regions and smallest (although still substantial) in the Northeast, which is now the only region in which median household net worth remains above $100,000. Here is median household net worth by region in 2010, and the percent change in net worth since 2007 after adjusting for inflation...

Total households: $77,300 (-39%)
Northeast: $119,900 (-28%)
Midwest: $68,400 (-39%)
South: $68,300 (-33%)
West: $73,400 (-55%)

Source: Federal Reserve Board, Federal Reserve Bulletin, Changes in U.S. Family Finances from 2007 to 2010: Evidence from the Survey of Consumer Finances

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