American households got poorer in the first decade of the 21st century, largely because of the housing bust.
by Jacob Goldstein, NPR Planet Money
American families got poorer in the first decade of the 21st century.
The wealth of the median U.S. household — the family at the middle of the middle class — fell from $106,000 in 2001 to $77,000 in 2010.
The fall was driven, not surprisingly, by the housing bust. Homes are the single largest asset for many families, and they represent a particularly large share of wealth for the middle class. [MORE]