Aussies richest in the world

FOR IMMEDIATE RELEASE
(Free-Press-Release.com) November 2, 2011 -- Despite the doom and depression, there are reasons to be happy. Australians are the richest people in the world, as calculated from the average levels of wealth, according to Credit Suisse Global Wealth Report 2011, which measured the wealth of 4.5 billion adults worldwide.

Found median wealth of Australia, the midpoint between the wealthiest and poorest adults, $ 213,800 was the highest in the world.

Average wealth was $ US397, 000 in the world second highest after Switzerland with $ US540, 000.

Is the average rate is more meaningful, because it says more about how the country's middle class does.

The wealth of Australia is more evenly distributed than in other countries, especially in comparison with the U.S., which has an average wealth of around $ US53, 000.

As Credit Suisse wealth measured in U.S. dollars, the strength of the dollar has helped boost Aussie Australia to the classification.

But even after the removal of currency affects the performance of Australia is strong, particularly since 2000, the report said.

Credit Suisse co-head of equity research in Australia, said Adnan Kucukalic a progressive tax system and labor market protection in this country have helped to support the wider diffusion of wealth compared with the U.S..

"We must not forget that we are looking to Australia, where almost everything is as good as could be and in America everything is as bad as could be," Kucukalic told reporters in Sydney.

The Credit Suisse Global Wealth Report 2011 also says that the level of property held by Australians is now the second highest in the world after Norway.

Properties are 65% of total assets of households.

In Britain, the property is approximately 50% in the U.S. about 30%.

Were there to be any continuous fall in house prices will have great impact on the wealth levels of Australians. "


However, despite the doomsayers predict a collapse in prices, which have so far proved wrong.

The chief economist at CommSec, Craig James said Fairfax Media for house prices to collapse, there should be a large increase in unemployment or interest rates should go through the roof and none of those things look like they are going to happen .

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