After I created my article on income inequality and the US Economic Crisis I received numerous requests for more information.
Information on the Average Net Worth of Americans is readily available, and I’ll provide you with a bunch of pie charts and graphs that explain everything.
This information comes from two main sources. The Federal Reserve Boards Survey of Consumer Finances and a couple Reports from the IRS.
I’m focusing on information from 2007 because it is extremely reliable. I’d like to use estimates that are more recent, but I prefer accuracy over recent guesses.
All of the data below is based on total Net Worths of American Households. There are currently 112,611,029 American households based on the Federal Reserve Board.
So here is everything you’d ever want to know about the Net Worths of Americans.
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Average Net Worth US Citizens 2007
This is the big chart. It shows how much of the total Net Worth of the United States is owned by the different groups. As you can see the top 10% controls a massive amount (70% of the nations total Net Worth). Again this data comes from the Federal Reserve Boards Survey of Consumer Finances.
Understand that in 2008 the total net worth of the US was estimated to have dropped by 22.3%. If you want to see estimates on where the US stands now see the data covered in US Economic Crisis.
What you see above and below is where the US stood in 2007. Again because this data is as close to 100% accurate as you can get.
Increase of Net Worth of Americans (1989 – 2007)
There has been a dramatic change in the Net Worth of the top 10% as you can see below.
|Year||Bottom 25%||25 – 50%||50 – 75%||75 – 90%||Top 10%|
That’s a total increase in Net Worth of:
Distribution of US Total Net Worth over the Years
Let’s take a look at what it looks like when we divide the above data in a bar chart.
Net Worth Based on Numerous Factors
Now I’ll provide numerous charts that show how much of Americas Net Worth is divided up based on numerous factors.
You no doubt noticed how dramatically home ownership effects net worth. That’s the reason why American citizens were so hurt by the last economic collapse.
When a majority of your net worth is tied up in your home, you will be that much more hurt when the housing market collapses!
And, it definitely collapsed! In May of 2011 the Wall Street Journal reported that home values have fallen by 33%. Total loss of Net Worth of between 16 – 18%. Others have reported a loss of over 22.3% because of the fall in all other investments. More on the current situation here US Economic Crisis based on government estimates.
Here are two more charts to help explain this situation based on 2007 reports and FRB estimates for today.
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