From the BBC:
Households saw a 9% drop in wealth from the previous quarter – the largest since the Fed began collecting records more than 50 years ago. …
…The decline in net worth was the sixth consecutive quarterly drop.
The record fall pushed the total net worth of households down to $51.48 trillion. It has now fallen 20% below its peak of $64.36tn in the third quarter of 2007.
Since then house prices have tumbled and more than a million people have lost their homes.