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."
http://www.news.com.au/business/mone...017313,00.html
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
http://www.rba.gov.au/publicationsandresearch/bulletin/bu_may04/bu_0504_2.pdf
- Forums
- Property
- population surging
another article on household debt....for the young'unsIn an...
Featured News
Featured News
The Watchlist
LU7
LITHIUM UNIVERSE LIMITED
Iggy Tan, Executive Chairman
Iggy Tan
Executive Chairman
Previous Video
Next Video
SPONSORED BY The Market Online