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Is middle class wealth in meltdown?

NYU / BROWN (US) —The collapse of home prices and the stock market has taken an immense toll on the assets of the middle class, hitting minorities and young adults especially hard, a new study suggests.“Most telling is that the wealth of the average person by 2010 was at its lowest level since 1969,” says Edward Wolff, professor of economics at New York University. “Inequality of net worth, after almost two decades of little change, rose sharply between 2007 and 2010. Inequalities rose by income class, by race and ethnicity,...

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Published By: Society & Culture - Futurity - Monday, 13 May