The Average Net Worth by Age: The massive financial chicanery brought on by housing equity figures and the new real estate bubble.
The best indicator of wealth is your net worth. Take you assets and subtract out your liabilities. It should come as no surprise to most Americans that half of this country is living paycheck to paycheck. One third of Americans have zero dollars for their net worth or in many cases for young Americans, have […]
Deleveraging from one bubble to another – $6.2 trillion in mortgage debt was added between 2000 and 2008. Since the peak in 2008 $1.3 trillion in US household debt is gone but another bubble is brewing hidden under the rubble of the busted housing market.
There is some interesting data on the deleveraging that is occurring with the American household. Since the peak in Q3 of 2008, US households have lowered their outstanding debt by $1.3 trillion. It is important to understand how this deleveraging is occurring. First of all, Americans are largely paying down existing debts much faster and […]