Thursday, March 7, 2013
U.S. net worth back to pre-recession level
With surging stock prices and steady home-price increases, Americans have finally regained the $16 trillion lost in the Great Recession. Unfortunately, most of this wealth has probably been credited to Americans who already enjoy a great amount of wealth. Many of the poor-middle class Americans sold their stocks when they were plummeting back in 2008. The smart investors, or atleast those who could afford to keep their money in the stock market, benefited greatly from this by buying stocks when they were down a few years ago. Nevertheless, this increase in wealth could lead to more consumption.
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I think this is a promising article that shows the development of the economy and continual growth. It has taken a few years, but the payoff is great and has come forth to prove that the risk paid is definitely worth the reward earned. While I do agree most of the growth in wealth can be credited to the upper class, I think there is hope that some percentage can be restored to middle class who lost a majority of their shares during the recession.
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