"This makes me sick! 140k in 1999 and now 900k. This country has gone to the dogs. Our kids will never own a house."
Credit Sussie had Australia as the second wealthiest nation last year with just above $250K net wealth but a lot of that also has to do with inflated property prices.
It's like in the 80's and even early 90's being a millionaire was like some kind of upper echelon status these days they are everywhere (1/25?) and largely attributed to rise in property prices. Really that old millionaire status needs seven to eight zero's behind it to stand out like it once did.
Look at the growth rate of millionaires in Australia in the years since property has been going parabolic - it's being growing double digits year in year out.
Kids need to put in the work while CS had that 250K figure the thing as always those that have more have a lot more and those with less a lot less.
Our kids will have to study and work hard but in youth everything can be yours it's about how much you put in.
