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Originally Posted by Nikolas
It has to do with our assets and one of our biggest assets is the home, Australia has one of the highest cost of property in the world. This is not liquid assets or liquid wealth but net assets |
That's an interesting link, thanks.
Australian's Median Wealth is greater than the Median Wealth of any age category in USA below the age of 75.
Houses are liquid assets in the sense that managed funds and shares are - but they are still liquid. Put them on the market, wait a few weeks, and get the money 45 or 60 days later.
Credit Suisse have been publishing this report for the last 12 year - and every year, Australia has come in either in first or second spot. So this latest report isn't just based on the current spike in housing prices.
Cheers,
Renato