Median Family Net Worth Under 1989 Level: Debt-to-Money Worst Since 62
The stock market is at an all-time high but Americans Owe More, Save Less, and are Poorer Than in Decades.
Negative Wealth Percentage On the Rise
- A greater share of Americans have more debt than money in the bank than at any point since 1962, according to Deutsche Bank economist Torsten Slok.
- 30.4% of US families have negative net worth despite the recovery in housing and the stock market.
- Median net worth is below where it was in 1989.
- Inflation adjusted, net worth may be the worst in history. $78,000 is not worth what it was in 1989, to say the least.
Mike "Mish" Shedlock