{"id":1772770,"date":"2022-12-12T16:34:01","date_gmt":"2022-12-12T21:34:01","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1772770"},"modified":"2022-12-12T16:34:05","modified_gmt":"2022-12-12T21:34:05","slug":"report-household-wealth-plummeted-by-13-5-trillion-this-year","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-household-wealth-plummeted-by-13-5-trillion-this-year\/","title":{"rendered":"Report: Household Wealth Plummeted by $13.5 Trillion This Year"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">18<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Freport-household-wealth-plummeted-by-13-5-trillion-this-year%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1772770&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>American households&#8217; real wealth fell $13.5 trillion in the first three quarters of 2022, according to a MarketWatch <a href=\"https:\/\/www.marketwatch.com\/story\/household-wealth-down-by-13-5-trillion-in-2022-second-worst-destruction-on-record-11670623787\" target=\"_blank\" rel=\"noopener\">report<\/a>.<\/p>\n<p>The 8.6 percent drop from January to September is the second fastest decline on record, behind the financial crisis of 2008\/2009. Record-high inflation under the Biden administration is causing a decrease in the purchasing power of assets and liabilities, MarketWatch reports:<\/p>\n<p><em>Nominal net worth fell 4.6% to $143.3 trillion, as the market value of assets fell by $6 trillion and liabilities rose by about $900 billion. Households\u2019 balance sheets\u2014assets minus liabilities\u2014were propped up by a 10% increase in home equity, which is the greatest source of wealth for most American families.<\/em><\/p>\n<p><em>But the loss in real wealth from January through September was about twice as large as the nominal loss\u2014$13.5 trillion in current dollars\u2014after accounting for the rapid inflation experienced this year. Inflation makes both debts and liabilities worth less in terms of purchasing power.<\/em><\/p>\n<p>Real household wealth, after adjusting for inflation, was 10 percent higher than it was in late 2019.<\/p>\n<p>The price of stocks, which have lost about 25 percent of their value, outpaced gains in real estate values in the third quarter,\u00a0a financial report released Friday by the Federal Reserve showed. The Federal Reserve&#8217;s report put the nominal wealth loss at $6.8 trillion.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>American households&#8217; real wealth fell $13.5 trillion in the first three quarters of 2022, according to a MarketWatch report.<br \/>\nThe post Report: Household Wealth Plummeted by $13.5 Trillion This Year appeared first on Washington Free Beacon.<\/p>\n","protected":false},"author":164,"featured_media":1772773,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[544],"tags":[8152,4092,7510,8249,3819,7511],"class_list":["post-1772770","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-the-free-beacon","tag-13-5","tag-beacon","tag-household","tag-plummeted","tag-report","tag-wealth"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1772770","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/164"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1772770"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1772770\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1772773"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1772770"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1772770"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1772770"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}