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Published by: api-26011493 on May 25, 2010
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05/25/2010

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Housing
 
Equity
Its
 
impact
 
on
 
household
 
net
 
worth
 
in
 
the
 
US
 
and
 
Nashville
Davidson
‐‐
Murfreesboro,
 
TN
 
Net
 
Worth
 
in
 
the
 
US
What
 
is
 
it?
 
 – 
Wealth
 
measured
 
as
 
total
 
assets
 
(incl.
 
homes,
 
bank
 
accounts,
 
etc.)
 
minus
 
total
 
liabilities
 
(incl.
 
mortgages,
 
car
 
loans,
 
credit
 
cards,
 
other
 
debt)
 
What
 
changes
 
it?
 – 
Investment
 – 
Valuation
 – 
Ownership
 
of 
 
Assets
 – 
Acquiring
 
or
 
paying
 
down
 
debt
Why
 
do
 
we
 
care?
 
 – 
Wealth
 
impacts
 
consumer
 
decisions
 
regarding
 
consumption
 
&
 
saving,
 
and
 
work
 
&
 
leisure
 
S&P
 
500
 
Index
02004006008001000120014001600
     1     9     8     9
      ‐
     J    a    n     1     9     8     9
      ‐
     N    o    v     1     9     9     0
      ‐
     S    e    p     1     9     9     1
      ‐
     J    u     l     1     9     9     2
      ‐
     M    a    y     1     9     9     3
      ‐
     M    a    r     1     9     9     4
      ‐
     J    a    n     1     9     9     4
      ‐
     N    o    v     1     9     9     5
      ‐
     S    e    p     1     9     9     6
      ‐
     J    u     l     1     9     9     7
      ‐
     M    a    y     1     9     9     8
      ‐
     M    a    r     1     9     9     9
      ‐
     J    a    n     1     9     9     9
      ‐
     N    o    v     2     0     0     0
      ‐
     S    e    p     2     0     0     1
      ‐
     J    u     l     2     0     0     2
      ‐
     M    a    y     2     0     0     3
      ‐
     M    a    r     2     0     0     4
      ‐
     J    a    n     2     0     0     4
      ‐
     N    o    v     2     0     0     5
      ‐
     S    e    p     2     0     0     6
      ‐
     J    u     l     2     0     0     7
      ‐
     M    a    y     2     0     0     8
      ‐
     M    a    r     2     0     0     9
      ‐
     J    a    n     2     0     0     9
      ‐
     N    o    v
62.5
 
percent
 
of 
 
home
 
owners
 
and
 
26.0
 
percent
 
of 
 
renters
 
had
 
direct
 
or
 
indirect
 
stock
 
holdings
 
and
 
were
 
likely
 
impacted
 
by
 
the
 
market
 
decline
 
in
 
2008The
 
Fed
 
resurveyed
 
households
 
in
 
2009
 
to
 
examine
 
how
 
the
 
market
 
decline
 
and
 
recovery
 
affected
 
their
 
net
 
worth.
 
Results
 
are
 
expected
 
in
 
late
 
2010.
Source:
 
Wall 
 
Street 
 
 Journal 

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