MYB: Family net worth drops nearly 40%

NEW YORK (CNNMoney) – The average American family's net worth dropped almost 40% between 2007 and 2010, according to a triennial study released Monday by the Federal Reserve. The stunning drop in median net worth – from $126,400 in 2007 to $77,300 in 2010 – indicates that the recession wiped away 18 years of savings … Continue reading MYB: Family net worth drops nearly 40%