Saturday, June 16, 2012

Americans hang on after recession claims wealth

 

Michael, left, and Patricia Jackson are photographed in their home Saturday, June 16, 2012, in Marietta, Ga. On a suburban cul-de-sac northwest of Atlanta, the Jacksons are struggling to keep a house worth $100,000 less than they owe. Their voices and those of many others tell the story of a country that, for all the economic turmoil of the past few years, continues to believe things will get better. But until it does, families are trying to hang on to what they've got left. The Great Recession claimed nearly 40 percent of Americans' wealth, the Federal Reserve reported last week. The new figures, showing Americans' net worth has plunged back to what it was in 1992, left economists shuddering. (AP Photo/David Goldman)Looking back, the financial lives many Americans enjoyed until just a few years ago can seem like a mirage.

Americans hang on after recession claims wealth
Sat, 16 Jun 2012 20:34:56 GMT

Posted by at 5:37 PM

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