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Pfeffer says reasons for falling household wealth in the U.S. elusive, but it has been going on for a long time
May 11, 2016
This story looks at the tumbling median net worth for working- and middle-class American households. Fabian Pfeffer says this slide started well before the housing market crashed in 2007: “Net worth dropped long before the recession, if you exclude housing wealth.” Starting in the late 1990s, “the housing bubble was hiding the loss for the typical American household.”