U.S. Household Net Worth Sees Biggest Decline since Financial Crisis
March 7, 2019
A tumultuous fourth quarter caused the largest drop in Americans’ net worth since the financial crisis. Net worth for U.S. households at the end of the year totaled $104.3 trillion, falling $3.73 trillion from the end of the third quarter, according to the Federal Reserve. This amounts to a 3.4 percent drop, which is the second largest quarterly drop since the Fed began tracking this data.
The massive drop in the equities market at the end of last year actually accounted for a net worth decline of $4.6 trillion, but this was offset by a $300 billion increase in real estate values.