Net worth of US families drops

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Updated: 6/12/2012 8:24 am
SAN ANTONIO -- A new survey reveals just how much the recession hurt people's finances.

The Federal Reserve says the median family net worth in 2010 was almost the same as 1992, after adjusting for inflation. Its survey also found people's median net worth took a $49,000 hit between 2007 and 2010.

Net worth includes the value of assets like homes, stocks and bank accounts.

Government officials say the recession officially ended three years ago.
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