typical US family's net worth: $93,100

Discussion in 'Wall St. News' started by richardyu301, Feb 24, 2006.

  1. Shouldn't you look at the "quality" of the net worth figure?

    Asset values, particularly homes, are dynamic. Debt is static.

    I would imagine a lot of Joe Sixpacks have no more than $5,000 liquid, a lame 401K, probably no pension, and banking on Social Security at age 62. Those observations exclude re-fi's of that dynamic home value.
    #11     Feb 28, 2006
  2. FastFred


    With all of the talk of people being in debt and overextending themselves I thought it would be lower. But then again the top 10% probably lift the stat.
    #12     May 12, 2006
  3. moo


    So, after the housing bubble bursts and real estate values fall by 50%, the typical American family will be almost bankrupt?
    House value $160k -> $80k. Minus mortgage $95k equals -$15k, i.e. negative equity in home.

    And of course the poorer 25% of families will be bankrupt a lot earlier.

    Or can Helicopter-Ben save them?
    #13     May 14, 2006
  4. "Typical" net worth 93K........

    You going to believe that,
    or your lieing eyes.

    I think this net worth factoid
    is CRAP.

    Just like its daddy WSJ........CRAP.
    #14     May 14, 2006
  5. I'm suprised about the net worth of an american family.
    Isn't the US the richest country in the world?

    In my country the net worth per family appears to be about 307000 euro ( or approx 240000$).
    #15     May 14, 2006
  6. agpilot


    Hello spike500
    It's an illusion. A false appearance. That is the current case compared to just 50 years ago. The generation of adults that went through the 1930's depression and WW2 were much better off then the rest of the world until the plastic charge card came along. Buy Buy Buy on credit was the thing to do and that is a completely different mindset then 50 years ago. It's quite easy to dig yourself into a hole buying on easy to get credit. If the housing market does sell off big time, there will be a lot of people hurting from a net worth point of view. agpilot

    Edit: I'll add that my opinion is that the average mindset (money wise) is weaker now then it was 40 to 60 years ago. People that went through the 1930 to 1950 era had a stronger sence of net worth and could be counted on to really make an effort to pay off any debit.. Now they often walk away from loans or run for a lawyer.
    #16     May 14, 2006

  7. I would be really interested in knowing which country you are in
    that has a a net worth of $240,000.00 per family. I assume you
    mean this as a median figure?

    And how much are the top 10% worth as compared to the bottom 25%?
    #17     May 14, 2006
  8. cmoicmoi


    307000 Euros=240000$ ??? Do you know we are not in october 2000 anymore ? :D
    #18     May 14, 2006
  9. My wood-grain is paid for and I do not have any loans, besides my mortgage. Am I better off? say than someone with a net worth of 250k with 200k of liabilities?

    If the average american family has 20k of credit card debt and additional car loans....wouldn't the quality of debt matter?

    Michael B.

    #19     May 14, 2006
  10. well, people and media have a tendency to talk about money they don't have as opposed to what they do.

    #20     May 14, 2006