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Average Americans no richer than 25 years ago

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Editor's note: The following item is republished with permission of AOL Real Estate. See the original article: Middle Class Didn't Lose as Much Wealth as Thought, Scott Winship of Brookings Institution Says. By TEKE WIGGIN Americans are richer than they might think, though it may not seem like it.The Census Bureau recently released data that indicated a drop of more than 35 percent in median household wealth between 2005 and 2010, while the Federal Reserve released a survey weeks ago that found that median net worth plummeted by 39 percent from 2007 to 2010. The reports paint a grim picture of the state of the middle class, but the degree of the wealth decline that they suggest, when taken in context, may not be close to as bad as it seems. That's because wealth levels in the early- and mid-2000s were largely "illusory" and based on a false belief, some experts say, that Americans' homes were actually worth their housing-boom values. "The bursting of the bubble ex...