Recession has wiped out two decades of wealth!

WASHINGTON — The recent recession wiped out nearly two decades of Americans' wealth, according to government data released Monday, with middle-class families bearing the brunt of the decline.

The Federal Reserve said the median net worth of families plunged by 39 percent in three years, from $126,400 in 2007 to $77,300 in 2010. That puts Americans roughly on par with where they were in 1992.

Read more: Recession wiped out 39 percent of Americans' wealth, Fed data shows - The Denver Post http://www.denverpost.com/nationworld/ci_20835624/recession-wiped-out-39-percent-americans-wealth-fed#ixzz1xaPH0Oyo