Wednesday, 22 October 2014

How lucky are we?

Gavin Hegney, is often interviewed on ABC Local Radio for his expertise in property investment. He quoted some figures, partly to justify the expensive housing market in Australia, but also showing how lucky we are.
The most wealthy 10 per cent of people in the world have assets of more than $77,000. This compares to average Australian wealth of $225,000 per person. Also, the top 1 per cent of the world has assets of only $798,000 or more.
World-wide, to be middle class, annual income would need to be more than only $3,600.
Of course, this raises the further question of whether this degree of wealth in Australian makes us happier - a much more complex question to be answered.

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