The net worth of middle class American families is tied up in their homes, and that's a problem

It's a problem when a real estate bubble bursts, as we all know. Families’ median net worth fell almost 40% between 2007 and 2010.  Is it fair to blame President Obama for that? No, says Paul Krugman. The drop took place almost entirely during the Bush Administrationand started to turn around 3 months into the Obama Presidency, as illustrated by the chart at the link.