How wealthy is the average American household? We find out only every three years, which is a very long wait. Well, the wait is over but the moment is bittersweet.
On the one hand, we now know that net worth climbed by a substantial 17.7 percent between 2016 and 2019, after adjusting for inflation—almost, but not quite, a record-busting increase (outdone only by the 18.4 percent increase between 2004 and 2007). On the other hand, because of Covid, who cares? Reviewing the 2019 numbers is like looking through an old family photo album of a time long ago and far away.
Still, the story must be told...
Median household net worth, 1989 to 2019 (in 2019 dollars)
2019: $121,800
2016: $103,500
2013: $89,400
2010: $90,700
2007: $149,400 (record high)
2004: $126,200
2001: $125,300
1998: $112,800
1995: $96,500
1992: $88,900
1989: $93,600
Source: Federal Reserve Board, 2019 Survey of Consumer Finances
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