Download or read book Household Wealth Trends in the United States 1962 2013 written by Edward N. Wolff and published by . This book was released on 2014 with total page 69 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asset prices plunged between 2007 and 2010 but then rebounded from 2010 to 2013. The most telling finding is that median wealth plummeted by 44 percent over years 2007 to 2010, almost double the drop in housing prices. The inequality of net worth, after almost two decades of little movement, was also up sharply. Relative indebtedness expanded, particularly for the middle class, though the proximate causes were declining net worth and income rather than an increase in absolute indebtedness. The sharp fall in median net worth and the rise in overall wealth inequality over these years are traceable primarily to the high leverage of middle class families and the high share of homes in their portfolio. The racial and ethnic disparity in wealth also widened considerably. Households under age 45 saw their relative and absolute wealth declined sharply. Rather remarkably, there was virtually no change in median wealth from 2010 to 2013 despite the rebound in asset prices. The proximate cause was the high dissavings of the middle class, though their debt continued to fall. Wealth inequality and the racial and ethnic wealth gap also remained largely unchanged, though there was some recovery of net worth for young households.

Download or read book Household Wealth Trends in the United States 1962 to 2019 written by Edward N. Wolff and published by . This book was released on 2021 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt: Median household wealth shot up by 21.2 percent in real terms between 2016 and 2019, as asset prices continued to rebound. However, 2007 still remains the watershed year, and median wealth was down 20.4 percent relative to 2007, though mean wealth more than fully recovered. There was a modest remission in wealth inequality, with the share of the top one percent down by 1.4 percentage points, that of the top 20 percent down by 1.0 percentage points, the Gini coefficient down by 0.008, and the mean wealth of the top one percent also down by 1.9 percent. The homeownership rate finally rebounded a bit, by 1.2 percentage points, to 64.9 percent. The stock ownership rate advanced by 0.4 percentage points to 49.6 percent, though still down from its 2001 peak. Though the mean debt of the middle class rose by 10.7 percent in real terms, the debt-income and debt-net worth ratios remained largely unchanged. The black-white gap in mean net worth remained unchanged, as did the Hispanic-white wealth gap. The wealth of households under age 35 continued to deteriorate in both absolute and relative terms between 2016 and 2019.

Download or read book Trends in Household Wealth in the United States 1962 1983 and 1983 1989 written by Edward N. Wolff and published by . This book was released on 1994 with total page 74 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Century of Wealth in America written by Edward N. Wolff and published by Harvard University Press. This book was released on 2017-10-16 with total page 885 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding wealth in the United States—who has it, how they acquired it, and how they preserve it—is crucial to addressing the economic and political challenges facing the nation. But until now we have had little reliable information. Edward Wolff, one of the world’s great experts on the economics of wealth, offers an authoritative account of patterns in the accumulation and distribution of wealth since 1900. A Century of Wealth in America demonstrates that the most remarkable change has been the growth of per capita household wealth, which climbed almost eightfold prior to the 2007 recession. But overlaid on this base rate are worrying trends. The share of personal wealth claimed by the richest one percent almost doubled between the mid-1970s and 2013, concurrent with a steep run-up of debt in the middle class. As the wealth of the average family dropped precipitously—by 44 percent—between 2007 and 2013, with black families hit hardest, the debt-income ratio more than doubled. The Great Recession also caused a sharp spike in asset poverty, as more and more families barely survived from one paycheck to the next. In short, the United States has changed from being one of the most economically equal of the advanced industrialized countries to being one of the most unequal. At a time of deep uncertainty about the future, A Century of Wealth in America provides a sober bedrock of facts and astute analysis. It will become one of the few indispensable resources for contemporary public debate.

Download or read book Wealth in America written by Lisa A. Keister and published by Cambridge University Press. This book was released on 2000-06-19 with total page 324 pages. Available in PDF, EPUB and Kindle. Book excerpt: Utilizing existing data and new research methods, Keister examines househould wealth distribution from 1962 to 1995.

Download or read book Household Wealth Trends in the United States 1962 to 2016 written by Edward N. Wolff and published by . This book was released on 2017 with total page 0 pages. Available in PDF, EPUB and Kindle. Book excerpt: Asset prices plunged between 2007 and 2010 but then rebounded from 2010 to 2016. The most telling finding is that median wealth plummeted by 44 percent over years 2007 to 2010. The inequality of net worth, after almost two decades of little movement, went up sharply from 2007 to 2010, and relative indebtedness for the middle class expanded. The sharp fall in median net worth and the rise in overall wealth inequality over these years are largely traceable to the high leverage of middle class families and the high share of homes in their portfolio. Mean and median wealth rebounded from 2010 to 2016, by 17 and 28 percent, respectively. While mean wealth surpassed its previous peak in 2007, median wealth was still down by 34 percent. More than 100 percent of the recovery in both was due to a high return on wealth but this factor was offset by negative savings. Relative indebtedness continued to fall for the middle class from 2010 to 2016, and wealth inequality increased somewhat. The racial and ethnic disparity in wealth holdings widened considerably between 2007 and 2016, and the wealth of households under age 45 declined in relative terms.

Download or read book Deconstructing Household Wealth Trends in the United States 1983 2013 written by Edward N. Wolff and published by . This book was released on 2016 with total page 50 pages. Available in PDF, EPUB and Kindle. Book excerpt: Abstract: I use the Survey of Consumer Finances (SCF) to analyze wealth trends from 1983 to 2013. Asset prices plunged between 2007 and 2010 but then rebounded from 2010 to 2013. Median wealth plummeted by 44 percent over years 2007 to 2010 and wealth inequality was up sharply. These two movements can be traced to the high leverage of middle class families, the high share of homes in their portfolio, and the drop in house prices. There was virtually no change in median wealth and wealth inequality from 2010 to 2013 according to the SCF despite the recovery in asset prices. A decomposition analysis based on "pseudo-panels" indicates that for the middle three wealth quintiles, capital revaluation explained virtually all of the change in simulated mean wealth over the 1983-1989, 1989-2001, 2001-2007, 2007-2010, and 2010-2013 periods, and implicit savings were negative. Trends in inequality as measured by the change in the P99/P2080 ratio largely reflected differences in rates of return and savings rates between the top one percent and the middle three wealth quintiles. Over 1983-1989, the higher savings rate of the top group explained all the increase. Over 1989-2001, 2001-2007, and 2010-2013, their higher savings rate led to an increase in the P99/P2080 ratio but this was offset by the higher rate of return of the middle group, which lowered inequality. Over years 2007-2010, both the higher savings rate of the top group and their higher rate of return contributed about equally to the rise in the P99/P2080 ratio

Download or read book International Perspectives on Household Wealth written by Edward N. Wolff and published by Edward Elgar Publishing. This book was released on 2006-01-01 with total page 461 pages. Available in PDF, EPUB and Kindle. Book excerpt: Editor Wolff is a leading authority on income, wealth, and inequality in the US, and contributing authors are well-respected experts in their field. Overall, the research is high quality, and most papers include a substantial list of references. A plethora of data is considered, and much statistical evidence is presented. . . . A useful contribution to the literature on income distribution and wealth inequality. Recommended. E. Kacapyr, Choice The contributors to this comprehensive book compile and analyse the latest data available on household wealth using, as case studies, the United States, Canada, Germany, Italy, Sweden, and Finland during the 1990s and into the twenty-first century. The authors show that in the US, trends are highlighted in terms of wealth holdings, among the low-income population, along with changes in wealth polarization, racial differences in wealth holdings, and the dynamics of portfolio choices. The consensus between the authors is that wealth inequality has generally risen among these OECD countries since the early 1980s, although Germany stands out as an exception. In the case of the US, it is also noted that wealth holdings have generally failed to improve among low-income families and that the racial wealth gap widened during the late 1980s. International Perspectives on Household Wealth also contains new results on a number of topics, including measures and changes of wealth polarization in the US, measurement and changes of portfolio span in the US, asset holdings of low-income households in the US, and the effects of parental resources on asset holdings in Chile. Academic, government, and public policy economists in OECD countries, as well as those in so-called middle-income countries around the world, will find much to engage them within this book. It will also appeal to academics and researchers of international and welfare economics and other social scientists interested in the issue of inequality.

Download or read book Trends in U S Household Wealth Concentration written by Ted Patrick Schmidt and published by . This book was released on 1991 with total page 478 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Income and Wealth Inequality in America 1949 2013 written by Moritz Kuhn and published by . This book was released on 2017 with total page 56 pages. Available in PDF, EPUB and Kindle. Book excerpt: This paper studies the distribution of U.S. household income and wealth over the past seven decades. We introduce a newly compiled household-level dataset based on archival data from historical waves of the Survey of Consumer Finances (SCF). Complementing recent work on top income and wealth shares, the long-run survey data give a granular picture of trends in the bottom 90% of the population. The new data confirm a substantial widening of income and wealth disparities since the 1970s. We show that the main loser of rising income and wealth concentration at the top was the American middle class -- households between the 25th and 75th percentile of the distribution. The household data also reveal that the paths of income and wealth inequality deviated substantially. Differences in the composition of household portfolios along the wealth distribution explain this divergence. While incomes stagnated, the middle class enjoyed substantial gains in housing wealth from highly concentrated and leveraged portfolios, mitigating wealth concentration at the top. The housing bust of 2007 put an end to this counterbalancing effect and triggered the largest spike in wealth inequality in postwar history. Our findings highlight the importance of portfolio composition, leverage and asset prices for wealth dynamics in postwar America.

Download or read book Recent Trends in Household Wealth in the United States written by Edward N. Wolff and published by . This book was released on 2010 with total page 59 pages. Available in PDF, EPUB and Kindle. Book excerpt: "I find here that the early and mid-aughts (2001 to 2007) witnessed both exploding debt and a consequent 'middle-class squeeze.' Median wealth grew briskly in the late 1990s. It grew even faster in the aughts, while the inequality of net worth was up slightly. Indebtedness, which fell substantially during the late 1990s, skyrocketed in the early and mid-aughts; among the middle class, the debt-to-income ratio reached its highest level in 24 years. The concentration of investment-type assets generally remained as high in 2007 as during the previous two decades. The racial and ethnic disparity in wealth holdings, after stabilizing throughout most of the 1990s, widened in the years between 1998 and 2001, but then narrowed during the early and midaughts. Wealth also shifted in relative terms, away from young households (particularly those under age 45) and toward those in the 55-74 age group. Projections to July 2009, made on the basis of changes in stock and housing prices, indicate that median wealth plunged by 36 percent and there was a fairly steep rise in wealth inequality, with the Gini coefficient advancing from 0.834 to 0.865"--Abstract.

Download or read book Growing Wealth Inequality and Housing in the United States written by Xiao Di Zhu and published by . This book was released on 2007 with total page 36 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Studies in the Distribution of Household Wealth written by Edward N. Wolff and published by . This book was released on 1993 with total page 280 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book Trends in Aggregate Household Wealth in the U S 1900 83 written by Edward N. Wolff and published by . This book was released on 1989 with total page 29 pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book International Comparisons of the Distribution of Household Wealth written by Edward N. Wolff and published by Oxford : Clarendon Press ; New York : Oxford University Press. This book was released on 1987 with total page 310 pages. Available in PDF, EPUB and Kindle. Book excerpt: Examining six major industrial countries, this volume presents the most recent research on current conditions and trends in household wealth inequality.

Download or read book Recent Trends in Household Wealth in the United States written by Edward N. Wolff and published by . This book was released on 2007 with total page pages. Available in PDF, EPUB and Kindle. Book excerpt:

Download or read book A Century of Wealth in America written by Edward N. Wolff and published by Harvard University Press. This book was released on 2017-10-16 with total page 885 pages. Available in PDF, EPUB and Kindle. Book excerpt: Understanding wealth—who has it, how they acquired it, how they preserve it—is crucial to addressing challenges facing the United States. Edward Wolff’s account of patterns in the accumulation and distribution of U.S. wealth since 1900 provides a sober bedrock of facts and analysis. It will become an indispensable resource for future public debate.