American Family 40 Percent Poorer: The American family is about 40 percent poorer than it was 20 years ago, reports the Washington Post, citing a study by the Federal Reserve. The plummet in the median net worth of U.S. families was $77,300 in 2010, down from $126,400 in 2007. Median net worth was about the same in 1992 as it was in 2010. The decline in wealth was led mostly by the housing market crash, in which Americans saw a 42.3 percent drop in the median value of their homes, the survey said.
