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US household real net worth through the Great Recession and beyond: Have we recovered?

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  • Dunn, Lucia
  • Olsen, Randall

Abstract

Household data adjusted for inflation show that net worth is still below its pre-Great Recession levels, unlike aggregate Federal Reserve data. Poorer and younger households both lost and recovered more net worth percentage-wise. Financial assets have recovered more than non-financial assets.

Suggested Citation

  • Dunn, Lucia & Olsen, Randall, 2014. "US household real net worth through the Great Recession and beyond: Have we recovered?," Economics Letters, Elsevier, vol. 122(2), pages 272-275.
    • Handle: RePEc:eee:ecolet:v:122:y:2014:i:2:p:272-275
    DOI: 10.1016/j.econlet.2013.12.007
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    References listed on IDEAS

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    1. William R. Emmons & Bryan J. Noeth, 2013. "Why did young families lose so much wealth during the crisis? the role of homeownership," Review, Federal Reserve Bank of St. Louis, issue Jan, pages 1-26.
    2. William R. Emmons & Bryan J. Noeth, 2013. "The nation's wealth recovery since 2009 conceals vastly different balance-sheet realities among America's families," In the Balance, Federal Reserve Bank of St. Louis, issue 3, pages 1-2.
    3. Cynthia A. Bansa & Martha A. Starr, 2011. "Distributional costs of the housing-price bust," Working Papers 2011-04, American University, Department of Economics.
    4. Edward N. Wolff, 2012. "The Asset Price Meltdown and the Wealth of the Middle Class," NBER Working Papers 18559, National Bureau of Economic Research, Inc.
    5. Olsen, Randall & Dunn, Lucia, 2010. "Housing price declines and household balance sheets," Economics Letters, Elsevier, vol. 107(2), pages 161-164, May.
    6. Jesse Bricker & Arthur B. Kennickell & Kevin B. Moore & John Edward Sabelhaus, 2012. "Changes in U.S. family finances from 2007 to 2010: evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 98(June), June.
    7. Jesse Bricker & Arthur B. Kennickell & Kevin B. Moore & John Edward Sabelhaus, 2012. "Changes in U.S. family finances from 2007 to 2010: evidence from the Survey of Consumer Finances," Federal Reserve Bulletin, Board of Governors of the Federal Reserve System (U.S.), vol. 98(June), pages 1-80.
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    Cited by:

    1. Zhang Sisi & Feng Shuaizhang, 2017. "Understanding the Unequal Post-Great Recession Wealth Recovery for American Families," The B.E. Journal of Economic Analysis & Policy, De Gruyter, vol. 17(4), pages 1-18, October.
    2. Pankaj K. Maskara & Florence Neymotin, 2021. "Do Credit Unions Serve the Underserved?," Eastern Economic Journal, Palgrave Macmillan;Eastern Economic Association, vol. 47(2), pages 184-205, April.

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    More about this item

    Keywords

    Net worth; Great recession; Financial assets; Non-financial assets;
    All these keywords.

    JEL classification:

    • D31 - Microeconomics - - Distribution - - - Personal Income and Wealth Distribution
    • E01 - Macroeconomics and Monetary Economics - - General - - - Measurement and Data on National Income and Product Accounts and Wealth; Environmental Accounts

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