in the final three months of last year, the largest drop since the third quarter of 2011, the Australian Bureau of Statistics said on Thursday. Household wealth per capita dropped by $10,198 to $404,320, falling for a second consecutive quarter.The decline was driven by land and property values, which slid for a fourth straight quarter, and financial assets as super funds were hit by falling share prices in the December quarter.
The economy slowed sharply in the second half of last year on weaker consumption, which accounts for almost 60 per cent of GDP.
Long way to the bottom.. plenty of air left in this bubble.
1. And how big was the RISE in so-called 'wealth' prior to this? 2. And since when is DEBT magically called 'wealth', when so-called household 'wealth' (if not selling) from a higher house 'value' is ONLY accessed by BORROWING more against the 'increased house value'.
74Barbara Soon to be 100 years 👹
Hahaha. A little like the SMH. Forever on skid row
About time. Maybe the newly devorced, 1st home buyers and the underpaid casual workers can afford to have some hope.
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