Australia falls to last on Credit Suisse wealth report

Discussion in 'Property Market Economics' started by ollidrac nosaj, 27th Oct, 2019.

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  1. ollidrac nosaj

    ollidrac nosaj Well-Known Member

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  2. radson

    radson Well-Known Member

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    Its basically the effects of a floating exchange rate? The report is based on USD.
     
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  3. Harris

    Harris Well-Known Member Premium Member

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    correct - AUD was almost at parity with USD in 2012 and now circa 36% down, so in purely AUD terms, the net wealth is up by 25% in those 7 years - also given they measured it over 2018/19 period, most of the wealth tied up in real estate would be down but this would reflect with significant gain as the markets improve in the next report for 2019/20.
     
  4. 2FAST4U

    2FAST4U Well-Known Member

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  5. marmot

    marmot Well-Known Member

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    According to a media report the other day regarding ABS statistics, its been another bad year for household spending levels.
    Spending on Durable goods, furniture etc was the second lowest since records began in 1991, with labour productivity going negative.

    https://www.watoday.com.au/politics...hare-dips-to-10-year-low-20191025-p5348w.html

    "Employee wages' share of total national income dropped to 52.1 per cent last financial year, the lowest level in a decade, while the profit share enjoyed by the business sector rose to its highest level since 2006-07."
     
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  6. Kangabanga

    Kangabanga Well-Known Member

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  7. radson

    radson Well-Known Member

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    Although to be fair , the number of recipients has doubled