American households took a big hit in their home equity in the five-year span between 2005 and 2010. But otherwise, according to new data from the Census Bureau, they saw an 8% jump in their net worth.
Overall, median household net worth dropped 35% during the period, from $102,844 to $66,740 in constant 2010 dollars. But excluding home equity, the media net worth increased from $3,859 to $15,000 between 2009 and 2010.
In absolute terms, median net worth decreased for all age groups over the period, but more so for older households than for younger ones.
For householders 65 and older, it decreased from $195,890 to $170,128; for those under 35, the decrease was from $8,528 to $5,402. In percentage terms, however, the story was much different: a 37% decline for younger householders, compared with a 13% decline for older ones.
Householders age 35 to 44 were hit the hardest, though. The largest percent decline in median net worth from 2005 to 2010 of any age group was in the 35-44 age range: 59%.
