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November 20, 2017
Incomes are up, the stock market is soaring, and home prices have largely recovered from the mortgage meltdown. But Americans still haven't regained all the wealth they lost and, on the whole, are worse off than in 1998.
The Federal Reserve's just-released Survey of Consumer Finances, done every three years, tells a stubbornly grim tale. Median net worth for all families, measured in 2016 dollars, dropped 8 percent since 1998. (The survey's definition of families includes single people and childless couples and is equivalent to how other government surveys define households.) In addition:
. . .