US households see biggest decline in net worth since the financial crisis

[McRocket]

'Americans’ net worth fell at the highest level since the financial crisis in the fourth quarter of 2018 as sliding stock market prices ate into the household balance sheet.

Net worth dropped to $104.3 trillion as the year came to an end, a decrease of $3.73 trillion, according to figures released Thursday by the Federal Reserve. The fall amounted to a drop of 3.4 percent.


Much of the slide came due to Wall Street’s woes, as the stock market suffered a precipitous decline that started in October and briefly reached bear market status. Equities skidded as investors began to fear that the Fed would keep raising interest rates even as economic conditions began to deteriorate.

By the time the market drop ended in late December, households saw $4.6 trillion worth of equity value deteriorate. The decline was offset somewhat by a $300 billion increase in real estate value. The overall move was the second-highest quarterly dollar drop since the Federal Reserve began tracking the statistic.'

US households see biggest decline in net worth since the financial crisis
https://www.federalreserve.gov/releases/z1/20190307/z1.pdf

Not good.

 

[OldLady]

What I want to know is why gasoline has gone up 30 cents a gallon in the last month?

 

[Auld Phart]

What I want to know is why gasoline has gone up 30 cents a gallon in the last month?

Cold spell

(damn Al Gore)

 

[Rocko]

That’s because everyone keeps overspending and accumulating debt

 

[BlueGin]

Dem controlled New Mexico just passed the biggest tax bill in New Mexico history. Never mind the fact that we are the poorest state in the country.

Income tax increase for earners that make 17k and up
Tax on purchasing cars and licenses and tag renewal.

Tax on Alcohol ,cigarettes and gas.

And they are also talking about taxing food.

Yep...those democrats sure care about the poor and middle class....not.

 

[Cellblock2429]

'Americans’ net worth fell at the highest level since the financial crisis in the fourth quarter of 2018 as sliding stock market prices ate into the household balance sheet.

Net worth dropped to $104.3 trillion as the year came to an end, a decrease of $3.73 trillion, according to figures released Thursday by the Federal Reserve. The fall amounted to a drop of 3.4 percent.


Much of the slide came due to Wall Street’s woes, as the stock market suffered a precipitous decline that started in October and briefly reached bear market status. Equities skidded as investors began to fear that the Fed would keep raising interest rates even as economic conditions began to deteriorate.

By the time the market drop ended in late December, households saw $4.6 trillion worth of equity value deteriorate. The decline was offset somewhat by a $300 billion increase in real estate value. The overall move was the second-highest quarterly dollar drop since the Federal Reserve began tracking the statistic.'

US households see biggest decline in net worth since the financial crisis
https://www.federalreserve.gov/releases/z1/20190307/z1.pdf

Not good.

/----/ Hey Einstein, your link says : "Net worth dropped to $104.3 trillion as the year came to an end, AND The decline was offset somewhat by a $300 billion increase in real estate value."

That was over two months ago. Since then the market has recovered. Sorry to ruin your glee.
^GSPC : Summary for S&P 500 - Yahoo Finance

 

[debbiedowner]

What I want to know is why gasoline has gone up 30 cents a gallon in the last month?

Supposedly getting things ready to switch over to summer blend.

 

[depotoo]

That’s because everyone keeps overspending and accumulating debt

Yet net domestic household savings and investment is up, according to his second link, as well as employee salary, wages and other compensation.

 

[HereWeGoAgain]

If you're not making more money in this economy you're a deadbeat.

 

[McRocket]

If you're not making more money in this economy you're a deadbeat.

So...since the entire country is losing money, that means (in your eyes) the entire country is a 'deadbeat'.

Plus, I noticed you thought the OP was funny. So you think it is 'funny' that American households are dropping in worth.

Heck of a bad way to speak about America.

So be it.


Have a nice day.

 

[Cellblock2429]

If you're not making more money in this economy you're a deadbeat.

So...since the entire country is losing money, that means (in your eyes) the entire country is a 'deadbeat'.

Plus, I noticed you thought the OP was funny. So you think it is 'funny' that American households are dropping in worth.

Heck of a bad way to speak about America.

So be it.


Have a nice day.

/——/ The report was for the end of 2018. The market had come roaring back. Try and be honest for once.

 

[HereWeGoAgain]

If you're not making more money in this economy you're a deadbeat.

So...since the entire country is losing money, that means (in your eyes) the entire country is a 'deadbeat'.

Plus, I noticed you thought the OP was funny. So you think it is 'funny' that American households are dropping in worth.

Heck of a bad way to speak about America.

So be it.


Have a nice day.

I dont know anyone who isnt doing better.

 

[deanrd]

American household net worth fell by nearly $4 trillion in fourth quarter

American household net worth fell by nearly $4 trillion in fourth quarter

During the fourth quarter, household debt rose by 2.9 percent, compared with a year earlier.

Americans were hard hit by the worst quarterly performance for the major stock indexes in about a decade, according to investment firm T. Rowe Price.

———

This can’t possibly be a surprise. Republican policies are designed to loot the country and redistribute the wealth of the nation from the middle class to the top 1%.

It’s been their policy for the past couple of decades. Everybody knows it.

Why do Republicans keep supporting it?

What is it do they think they’re getting when their leadership is destroying their lives?