SF Fed provides good summary of impact of the "Great Recession"

Kevin J. Lansing of the Federal Reserve Bank of San Francisco (see here) has a very brief and clear description of the impact of the Great Recession.  One of his chart's (Figure 2, Real Household Net Worth per Person) is posted below (click to enlarge).

He says:

Figure 2 shows that the decline in household net worth per person was more pronounced in the Great Recession than in the two previous recessions, as both stocks and housing experienced severe bear markets. This decline in net worth helps explain the drop in consumption and the increase in personal saving since 2007...