Economy
Related: About this forumCalculated Risk: Households lost $16.1 trillion during the Near-Depression
The Fed estimated that the value of household real estate increased $301 billion to $17.2 trillion in Q3 2012. The value of household real estate is still $5.5 trillion below the peak.
http://www.calculatedriskblog.com/2012/12/feds-q3-flow-of-funds-household.html?m=1
Thank you, Obama, Bernanke,and Geithner.
DonCoquixote
(13,616 posts)You might have disagreed how he dealt with it, but this thing was rolling well before he could do anything about it.
banned from Kos
(4,017 posts)Instead I credit the team with staving off a depression.
progree
(10,901 posts)The OP excerpt says the net worth bottom was in Q1 2009. Coincidentally perhaps, it was in Q1 2009 that Obama replaced Bushed. Putting it another way, the beginning of the upturn was in Obama's first quarter in office. At least as far as the household net worth.
According to the National Bureau of Economic Research (NBER.org), the official arbiter of recessions and expansions, the upturn began some unspecified time in June 2009, about 5 months after Obama took office (in Obama's 2nd quarter in office). http://www.democraticunderground.com/111622439#post3
Just noting the, perhaps, coincidence.