Families Arent Making As Much As They Were Three Years Ago

06.12.12 | Sarah Harnisch

The wealth of American families dived 40-percent in three years. The federal government says it's due to the recession and the housing crisis. In 2007, the average American family's net worth dropped from over 126-thousand dollars, to only 77-thousand in 2010. Middle class families took the biggest hit because their wealth was in their homes. The federal government says Americans lost 7-trillion-dollars in home equity since 2006, and they haven't regained much ground. Moody's Investments says the impact on each family came down to where they lived, how much they earned, and what type of investments they made.