Feeling Wealthy? Be Wary
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
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.
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