Houses, super driving wealth — just not for all


	Houses, super driving wealth — just not for all

tabsey

11-10-2007 4:29 AM

133 views

tags:

economy

tabsey says:

Same as elsewhere. The rich get very rich and the poor get screwed.

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<div style="margin: 12px 0px; font-family: arial; color: #333333; background: #ffffff; border: solid 4px #e5e5e5; width: 100%; clear: left;"><div class="CM_CTB_Content_Wrap" style="margin: 0px; padding: 0px;background-color: #ffffff;"><div style="border-bottom: solid 1px #dcdcdc; white-space: nowrap; margin-bottom: 8px; background-color: #eeeeee ;background-image: url(http://www.clipmarks.com/images/source-bg.gif); background-repeat: repeat-x; height: 24px; line-height: 24px; vertical-align: middle; padding-bottom: 4px; color: #666666; font-size: 10px;" ><a href="http://clipmarks.com/clip-to-blog/" title="see clips that are hot right now"><img src="http://content.clipmarks.com/blog_embed/317a5db2-432c-4408-ad04-c7617143c103/D62DEED2-02E5-4F52-B18D-F8205E10CDFB/" alt="" width="19" height="19" border="0" style="vertical-align: middle; margin: 0px 4px; display: inline; border: none; float:none;" /></a>clipped from <a title="http://www.theage.com.au/news/national/wealth-but-not-for-all/2007/11/09/1194329514536.html" href="http://www.theage.com.au/news/national/wealth-but-not-for-all/2007/11/09/1194329514536.html" style="font-size: 11px;">www.theage.com.au</a></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/national/wealth-but-not-for-all/2007/11/09/1194329514536.html"><P>THE average Australian household is now worth more than half a
million dollars, but the wealthiest households are getting richer
at more than twice the rate of the poorest.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/national/wealth-but-not-for-all/2007/11/09/1194329514536.html"><P>Latest Bureau of Statistics figures show that rising house
prices and growth in superannuation assets are what's pushing up
household wealth.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/national/wealth-but-not-for-all/2007/11/09/1194329514536.html"><P>While the Reserve Bank focuses on the fact that our assets have
exceeded our debts in determining that household finances are
generally in sound shape, only 1 per cent of total household wealth
went to the lowest-income households.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/national/wealth-but-not-for-all/2007/11/09/1194329514536.html"><P>For those in the lowest income category — that is
households with an annual income of less than $75,500 —
average household wealth increased just 5 per cent to $24,505.</P></blockquote><div style="height: 2px; font-size: 2px; background: #dcdcdc; border-bottom: solid 1px #f5f5f5; margin: 2px 4px;"></div><blockquote style="text-align: left; padding: 0px 8px; margin: 4px 0px 8px 0px; background: transparent; border: none;" cite="http://www.theage.com.au/news/national/wealth-but-not-for-all/2007/11/09/1194329514536.html"><P>But for those in the highest — those with a household
income above $749,000 — average household wealth over the
two-year period increased 11 per cent to $1.16 million.</P></blockquote></div><div style="margin: 0px 6px 6px 4px;"><table style="font-size: 11px;border-spacing: 0px;padding: 0px;" cellpadding="0" cellspacing="0" width="100%"><tr><td style="background:transparent;border-width:0px;padding:0px;">&nbsp;</td><td align="right" style="background:transparent;border-width:0px;padding:0px;width:107px" width="107"><a href="http://clipmarks.com/share/D62DEED2-02E5-4F52-B18D-F8205E10CDFB/blog/" title="blog or email this clip"><img src="http://content6.clipmarks.com/images/c2b-foot.png" border="0" alt="blog it" width="107" height="17" style="border-width:0px;padding:0px;margin:0px;" /></a></td></tr></table></div></div>

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