Bit of a nothing article.
It is just saying that prices on everything (houses and expenses) have gone up.
um....thats not really my take on the article.
My take in reading it is that most australians are significantly wealthier off now than they were in the past decade, taking into account inflation etc. This is mainly because the growth of property ( especially) and other investments such as shares with lowering of debt have increased personal net worth.
The author then proceeds to make the argument that the perception is not the same as reality. The perception is often doom and gloom, as reported in many newswires and even on this board.
It may not feel ( perception) like we are richer than 10 years back, but in dollar to dollar terms ( reality), we are.
"...For most, the perception is that they are going backwards - the cost of living is rising, incomes aren't keeping up and wealth levels are stagnating. But the reality is that incomes continue to grow faster than prices, while balance sheets are improving through record wealth levels and reduced debt levels.
"The fact is Australians have never been wealthier.
"The average Australian has wealth equivalent to almost $267,000, a level that has largely doubled over the past decade..."
Read more:
http://www.news.com.au/money/invest...ot/story-e6frfmdr-1226038882442#ixzz1JwAB8ifE
Trying to guilt me into making some sort of donation!
