Household wealth balance sheet

Now hiring new agents
The underlying reality is that American households are generally doing worse today, economically, than they were pre-2005. A picture of this reality is the US household balance sheet, which you can link to below. Between 2007 and 2008, the balance sheet shows American households losing a whopping $13 trillion, one-sixth of total assets owned. Even by 2010 assets barely begin to grow.

Experts almost always reference the housing market as the precursor to balance-sheet growth. The general consensus is “only when real estate stops deflating will the economy more broadly turn around.” So, the above picture of the words ‘now hiring new agents’ caught my eye. A real estate agency hiring? Since 2007 or so, you certainly haven’t seen many signs of it. This agency is located in a nice residential area near the border of Edina and Minneapolis, MN. Who knows. Maybe it’s a signal things are bottoming out on the housing side of the crisis.

Mark Austen Whipple
02.07.2012 11:39am

household wealth balance sheet

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This entry was posted in hard data, Symbolic data, symbolic vs hard data, the great contraction 2007-2012. Bookmark the permalink.

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