Total household networth in the US at the end of the Second Quarter of 2008 was $56 trillion.
From 2002 through the end of 2007, US household networth rose from $39.2 trillion to $58.7 trillion.
The housing correction of $2.7 trillion from end of 2007 to second quarter 2008 was marginal, compared to the $19.5 trillion rise it saw from 2002 to 2007. We have lot of correction to take place from now and in the next few years.
From 2002 through the end of 2007, US household networth rose from $39.2 trillion to $58.7 trillion.
The housing correction of $2.7 trillion from end of 2007 to second quarter 2008 was marginal, compared to the $19.5 trillion rise it saw from 2002 to 2007. We have lot of correction to take place from now and in the next few years.
Considering that only 5 US equity mutual funds (out of 9,100) had positive return YTD (as of Sep 17, 2008), it's hard to digest how much pain we are yet to see.
Data Source: Fortune Oct 13, 2008
Data Source: Fortune Oct 13, 2008
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