"our personal wealth has dropped to one of the lowest amongst developed countries,"
Gee Vinny you must be another Sky News junkie to think that.
Fact is.... Net-worth or “wealth” is defined in the report as “the value of financial assets plus real assets (principally housing) owned by households, minus their debts”. It is the balance sheet that a household might draw up, listing the items that are owned and their net value if sold.The new mean wealth of Australian adults is $778,353 (US$496,820), placing us fourth behind Switzerland (first, at US$685,230), the United States (second, at US$551,350), Hong Kong (third, at US$551,190). In terms of median wealth per adult, Australia ranks second behind Belgium, at $386,973 (US$247,450). Median wealth is still down nearly US$10,000 compared to 2021.
