another article on household debt....for the young'uns
In an address to the institute's Public Economics Forum in Canberra today, he will review income data which shows wealthier households, those with the most capacity to get themselves out of financial strife, hold the bulk of the nation's private debt.
The median household had debts that amounted to just 8 per cent of assets, meaning that in the event of a sudden drop in income the repayment obligations, could, in the worst case scenario, be avoided by selling at least part of the household wealth."
and then this article....about the wealthier property owners....that is people owning a property that is not their PPOR...only about 6.4% of all homeowners also hold one other property..... but then we knew all of this anyway....there are not many compared to the total population...and even less hold multiple IP's...I recall seeing figures of less than 20,000 people or .001 of the population
Investor households across all age groups tended to have higher incomes than their noninvestor counterparts (Graph 2). In line with this, 71 per cent of investors were in the top two household income quintiles and the propensity to own an investment property increased at higher incomes, with households in the highest quintile being almost three times more likely to own an investment property than households in the middle quintile (Graph 3). Associated with their higher income, investor households were much more likely to be working than their non-investor counterparts, and especially to be self-employed. Not surprisingly, investor households were also wealthier than non-investor households, partly because higher wealth reflects property ownership (Graph 2). More than half of all investor households were in the quintile with the highest net wealth, while only 2 per cent were in the least wealthy quintile (Graph 3). A conventional view of property ownership is that households tend to purchase their own home before buying an investment property. The HILDA Survey provides some support for this view, with 85 per cent of investor households also owning their own home, considerably more than the 68 per cent of home owners in the general population. Still, at 15 per cent, a surprisingly large share of investors were households who rented, but owned a residential property which they did not normally reside in. The latter group tended to be younger than those investors who also owned their own home: the median age of renter investors was 39 years, versus 49 years for owner-occupier investors
