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Median Net Worth $57K
Old 11-27-2012, 03:51 PM   #1
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Median Net Worth $57K

Posted for just for the numbers, and general information. Not to make any particular point.

Median Net Worth In 2010 At Lowest Level Since 1969: Report

The first link in the article goes to the study, and a .pdf file that goes into more detail on subjects such as pensions, wages, home ownership, stock ownership etc.

The paper further discusses the effects on society as a whole, including stability and future well being.
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Old 11-27-2012, 03:53 PM   #2
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It would be interesting to see a chart comparing the median and average net worth over time inflation adjusted.
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Old 11-27-2012, 04:09 PM   #3
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Sounds like getting into that 1% group might be worth the effort. Where do I apply?
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Old 11-27-2012, 04:27 PM   #4
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The .pdf file at the end of this link has the charts and detail that the author uses to support his study.

Paper: The Asset Price Meltdown and the Wealth of the Middle Class (2012 APPAM Fall Research Conference (November 8 - 10, 2012))

It's pretty long, but tries to bring together the different factors that are affecting everyone, with respect to the economy since 1962.
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Old 11-27-2012, 04:35 PM   #5
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So what?
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Old 11-27-2012, 04:40 PM   #6
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So what?
________
Guess you are right... It doesn't matter.

Moderator... ok to close this thread.
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Old 11-27-2012, 04:49 PM   #7
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Guess you are right... It doesn't matter.

Moderator... ok to close this thread.

Why Just because one person said 'so what?'


No reason to close it up unless people go off course....
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Old 11-27-2012, 06:09 PM   #8
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I just finished looking at the paper and I found it interesting. It is well done. The data is broken out to many groups and in multiple ways.
The ratios for wealth and income white to black and hispanic changed little since 1982.
Personal debt (vs home debt) remained constant and actually lowered a bit in the last decade.

The data on home ownership made me ponder about some of my friends and acquaintances. I conclude that some people were never meant to own homes and if they do, it is a mistake that is self correcting with tragic financial consequences.

Thanks for posting imoldernu
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Old 11-27-2012, 06:29 PM   #9
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The .pdf file at the end of this link has the charts and detail that the author uses to support his study.

Paper: The Asset Price Meltdown and the Wealth of the Middle Class (2012 APPAM Fall Research Conference (November 8 - 10, 2012))

It's pretty long, but tries to bring together the different factors that are affecting everyone, with respect to the economy since 1962.
I need a graph. I have a short attention span.

I did look over the PDF though.

Don't close the thread. If we can't discuss anything what's the point?
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Old 11-27-2012, 06:45 PM   #10
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I found it an interesting read. Thanks for posting it imolderu.

Why in the world would someone make such a rude remark as "so what"? Can't think of a better way to belittle the poster and shut down conversation. Sheesh.
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Old 11-27-2012, 06:53 PM   #11
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What i want to know is where do they extract this info from. its not part of any census and i know of no one ever surveyed.
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Old 11-27-2012, 07:36 PM   #12
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I used to be an admin a family travel type forum for ten years. I'm still friends with about 15 people from that forum on a private Facebook site. The forum went under due to fighting. It started out great, but a few bad ones came in and ruined it. It was addicting in the good years.
The mods have to have all the interpersonal skills required of a crack kindergaten teacher: "You kids behave or I'll send you to time out!"
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Old 11-27-2012, 07:54 PM   #13
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As an example:

The mods have to have all the interpersonal skills required of a crack kindergaten teacher: "You kids behave or I'll send you to time out!"
I don't want the job!
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Old 11-27-2012, 08:13 PM   #14
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imoldernu,
I think the number of statistics is overwhelming to some. People tend to dis-count the story once they know the genre.

The tone of the paper is wrong, I feel. In peer-reviewed research you wouldn't use a term like "pummeled," for instance.

I take the position that the gist of the article is correct. I believe so because I live in and near some of the richest towns in NJ. During the 25 years I've lived in these parts, the divergence of our classes has been steady throughout. SInce we are in the "top twenty" as defined in numerous tables in the study, we have not fared so badly. The fact that I earn essentially what I earned in 1990 pretty much describes the middle class squeeze. But we do ok by LBYM.

The really depressing facts in those tables are seen in the "bottom 40%" columns. I drive through some of the most depressed areas in Philadelphia a couple of times each month. There is no way out for people born into those environments which have been declining for more than 50 years.
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Old 11-27-2012, 08:20 PM   #15
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imoldernu,

The really depressing facts in those tables are seen in the "bottom 40%" columns. I drive through some of the most depressed areas in Philadelphia a couple of times each month. There is no way out for people born into those environments which have been declining for more than 50 years.
I take issue with the "no way out" comment.
There is always a way out, provided you are willing to find the door, and you do not wait until age essentially seals your fate.
I'll grant you that most will not find the way, but that does not remove the possibility.
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Old 11-27-2012, 08:27 PM   #16
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I take issue with the "no way out" comment.
There is always a way out, provided you are willing to find the door, and you do not wait until age essentially seals your fate.
I'll grant you that most will not find the way, but that does not remove the possibility.
Is it impossible? Clearly not. There are no legal barriers and there are always outlier-type people.

Statistically, there is no way out. How does the leg up get started in a depressed community these days? Mostly, it does not. I do not have a good solution or answer, but increasing income and wealth stratification as well as the "big sort" that has gone on (everyone has moved to enclaves where the locals look like you do) militate against mobility in US society.
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Old 11-27-2012, 08:38 PM   #17
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Old 11-27-2012, 11:43 PM   #18
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Guess you are right... It doesn't matter.

Moderator... ok to close this thread.
Well now that you have given your permission, I'm sure that they'll be right along to take care of it.
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Old 11-27-2012, 11:49 PM   #19
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I don't want the job!
But, but, I hear the pay is really, really good!

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Old 11-28-2012, 01:35 AM   #20
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Thanks for posting. I found the article very interesting.

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Originally Posted by imoldernu View Post
Posted for just for the numbers, and general information. Not to make any particular point.

Median Net Worth In 2010 At Lowest Level Since 1969: Report
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