It's probably happening to all home owners these days. You suddenly realise that, even after subtracting the mortgage if you've got one, you are worth a tenth of a million dollars, or quarter of a million, or even a million.
Tuesday, September 16th 2003, 8:01AM
by The Landlord
Next thing, you find yourself thinking, "I should be able to afford a better car," or better clothes, appliances, holidays, a bach, or whatever.
Is that good thinking? Maybe not.
Economists call this the wealth effect. And there's been lots of talk about it lately.
Household net worth - assets minus debts - grew 10 per cent in the last year, the highest increase in a decade, says the Westpac Household Savings Indicators survey.
