By now, all of us are aware that U.S. households lost 50 percent to 60 percent of their wealth from mid-2007 to March 2009 through a combination of the meltdown in financial markets and plunging real estate values. Even with the “blast off” rally of the past nine months, the loss of net wealth stands at 25 percent to 30 percent on average. The national unemployment rate is hovering around 10 percent, the highest in 26 years, reflecting the loss of almost 7.5 million jobs. Housing prices are off 20 percent to 50 percent depending on which part of the country you live in.
This is a companion discussion topic for the original entry at https://www.hagerty.com/articles-videos/articles/2009/12/28/state-of-the-market-winter-2010