this news is a bit old....but I thought it is a timely reminder....for some to ponder, over the coming weeks.... whilst the world waits and watches as the Euro keeps destroying themselves....and the banks shiver, or are they panicking now.....and the stockmarket gyrates on a daily basis .................................................. Their wealth has increased just 4 per cent since 2005-6, compared to the richest 20 per cent of households, where the average net worth has risen 15 per cent.
The top 20 per cent have an average of $2.2 million per household and account for about two-thirds of the nation's total household wealth, the ABS figures show.
The average wealth of an Australian household in 2009-10 was $720,000, up 14 per cent in the last five years.
The family home was the biggest contributor to household wealth. About 2.7 million households owned their home outright, with an average value of $541,000. For those with a mortgage, the average house value was $521,000 with an average mortgage of $188,000.
*******please note the averages.... For those with a mortgage, the average house value was $521,000 with an average mortgage of $188,000.
not hocked to the hilt at all.....they are actually sitting pretty... these figures are based on facts..... not what your neighbour, friend, mate told you... enjoy
