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House Holders News Today : Breaking News, Live Updates & Top Stories | Vimarsana

Detailed text transcripts for TV channel - CNN - 20100920:15:55:00

we have the official word. right? the recession is over. and it ended in june of 2009. but most people still aren t feeling it, and here to explain is alison kosik on the floor of the new york stock exchange. good to see you. run through the numbers for us, if you would, please. it s no shocker americans have less money now, that we are out of the recession, in fact, household net worth fell by $1.5 trillion from april through june. that s about a 3% drop and i m talking about the money, and the assets that make up your personal balance sheet. so the question is, what took the biggest hit? no surprise here. your instrechlts investments. the value of stocks, retirement and mutual funds all fell. exacerbating this, of course, unemployment. millions of people are out of work. they don t have money coming into their house holders. mortgage also dropped, not because it s good, but not because they paid off loans but because they lost their homes.

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