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Household wealth down 23% in 2 years - Fed
The average American family's household net worth declined 23% between 2007 and 2009, the Federal Reserve said Thursday. A rare survey of U.S. households, first performed in 2007 but repeated in 2009 in order to gauge the effects of the recession, reveals the median net worth of households fell from $125,000 in 2007 to $96,000 in 2009.
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