Australia nudges Switzerland off top of global median wealth list

We are really wealthy
From ABC
Chart of the day: Australians grab top spot on world's rich list

In its Global Wealth Report 2018, Credit Suisse puts the median adult wealth of Australians at $US191,453 ($264,903

 

Not really as it's mainly the result of our high property prices - which are also giving us the 2nd highest household debt in the World.

 

I am not sure if thats valid as majority of the top 15 has rather high property prices. Switzerland in particular is not known for cheap for anything. I do have a fair idea since I been to atleast half of them and I do have particular interest in their local property prices when I am there.

 

I think it comes down more even income and wealth distribution and very high rate of home ownership. for e.g. lots more Europeans rent instead of own.

 

Can attest for this. Lived in the U.S for 10 years, the overall $ lifestyle on the same wage is much higher.

 

Thailand at the bottom of the list is wealthier than a lot of our nearest neighbours.

So literally we are the richest while our nearest neighbours are the poorest

 

So we are in a declining market and overtaking.

SoneitheS property prices in Switzerland are declining faster than Australia or else your theory doesn't hold.

Either way.

Welath is Wealth.

Can always sell a house and monetize your assets and move to Thailand.

Response shows a typical chip on shoulder attitude of Australians

We are the se with our successful business man and women always shooting them down.

Every study for life wealth shows Australia at the top yet and average Aussies alway bitching.

 

Wait until the new report is released after 2-5 years. Once Aussie property prices are more sensible these so called rankings will show Aussies are not that rich, many would have even have negative net worth (equity) because of too much debt taken at the height of the boom that’s now turning into a bust.

 

Have you travelled @Waterboy ? Ever?

 

No wealth isn't wealth when it is backed by excessive debt. You get the reverse wealth effect if the asset price tied to the debt goes down. It can even be a risk to financial stability and the solvency of major institutions (forgotten about the GFC already)? Also our house prices are still high by World standards and the study may not have even included the recent falls.

PS regarding 'life wealth' there was a study which showed quality of life peaked in 1974 in Australia.

 

Doesn't sound like it.

 

There are also studies that say otherwise...

https://www.google.com.au/url?sa=t&...Vaw0wbLbbayP7V3QwsCmvUKPu&cshid=1543129559120

 

But that is just a survey of perceptions. They haven't tried to measure it an any empirical way.

 

I kinda assume wealth takes into account debt

 

Yes but if house prices keep falling while the debt remains the same we won't be so wealthy.

 

it will be more 'real' then?

 

Your looking at Australian property in bubble

The whole western world has just about had a property price appreciation. look at London, Vancouver Shanghai and many other places.

Switzerland is no different even same to talk of bubbles and similar issues with high debt.
Holes in Swiss property market ring mortgage alarm bells | Reuters

Stop looking at Australia in Isolation.

Open your eyes and appreciate if Australian property has grown in wealth so did most the world. Yet Australians have done well to overtake Switzerland.

We dont need a constant ship on the shoulder.


Lets Make Australia Greater

 

To be clear, your saying Australians are rich, they just need to sell and leave Australia to realize the wealth?

My experience living in California was that the middle class have a much higher standard of living than Melb/Syd in general.

Even the starbucks guy has a housekeeper and a gardener

 

No kidding. Live in housekeeper and gardener?

 

ya starbucks is one of the most successful chain in america.

sadly it failed in australia.

speaking about cali,

kids earning $150k a week struggling with 3-4k a month rent is not unheard off too..having lived in san fran jersey and manhattan,

depending what you mean by "middle class lifestyle"

i tend to feel like australian do have it better than americans.


well maybe we have different experiences, america is a big country after all.


but 200k = rich ?

hmmm
everyone here seems to be millionaires..