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US household net worth dropped from $126,400 in 2007 to $77,300 in 2010, with those only having a high school education losing the most wealth. 74.9% of households had debt in 2010, but debt levels and credit card use had declined since 2007. Income levels played a key role in net worth, with the top 10% seeing an increase in wealth. Property prices were blamed for the drop in equity.
The average household net worth in the United States rose from $126,400 US Dollars (USD) in 2007 to $77,300 USD in 2010, according to the US Census Bureau. People of all ages and education levels saw a hit to their net worth during this time, but individuals who only had a high school education lost the most wealth. In 2010, 74.9% of households also had debt, although both debt levels and credit card use had declined since 2007.
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The percentage of households who said they invested money in savings fell by more than 4 percentage points from 2007 to 2010.
Income levels have played a key role in household net worth. Households in the top 10% income bracket saw an increase in wealth from 2007 to 2010.
Experts place much of the blame for the drop in equity on property prices. In fact, when analysts ignored home equity, they noted that equity actually increased 8% from 2009 to 2010.
