A new economic report by a Ventura County based forecast center says that the wealth of the average American has dropped by about 20 percent since the start of the recession.
The California Lutheran University Center for Economic Research and Forecasting says per capita wealth has dropped from about $250,000, to $200,000. At the same time, the CLU reports says personal debt has been rising.
The Center released its fourth quarter U.S., and California forecasts yesterday. It says the state will continue to lag behind the nation’s economic recovery.