About Selva Freigedo

australian home with banknotes

Australia’s Household Debt is Creating the Illusion of Wealth

Cheap debt has created an illusion of wealth. Australian households are able to service their debt because unemployment and interest rates are low, for now. Canada’s household debt to GDP has ballooned to 98.7%, and is now higher than its GDP. Australia’s household debt to GDP is even higher, a whopping 125.2%.
Businessman Calculating Debts At Desk

Cheap Debt Is Only Fuelling Australian Inequality

According to the study The Wealth of a Nation by the Evatt Foundation, inequality in Australia has continued to increase since 2012. It is now at the highest since 1970. The richest 20% of Australians now own 62% of Australia’s total household wealth.