U.S. Households Lost $100,000 From Crisis, Study Says

Publication: Bloomberg Businessweek

Author: Rebecca Christie


04/28/2010 - The financial crisis and recession cost U.S. households an average of about $100,000 in lost wealth and income, according to a study by former Treasury Department economist Phillip Swagel.

From June 2008 through March 2009, households’ stock holdings fell $66,000 and real estate dropped $30,000, according to the study released today by the Pew Economic Policy Group. Each household also lost an average $5,800 from unemployment and lower earnings from September 2008 through December 2009, the study said.

Read the rest of the article U.S. Households Lost $100,000 From Crisis, Study Says on the Bloomberg Businessweek Web site.

Pew is no longer active in this line of work, but for more information, visit the main Pew Financial Reform page.

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