Net wealth in the UK is almost £321,000 per household ....

Aberdeenangarse

MrRee wrote: »

Well, Sue, tell that to the thousands of buyers I was fighting with in the Town Centre yesterday ... there is plenty of money around.

I didn't know Lidl's were having a sale :snow_laug

Mallotum_X

Even if the average is at this sort of level, its a big leap to imply average equates to typical. The typical househouse will have no where near this kind of wealth. Income and Wealth in the UK are extremely unevenly distributed.

To be in the top 10% for income is requires a fairly modest figure. 40odd thousand is all it takes. Wealth is an even more uneven distibution. So to simply divide the total by all the individuals is a bit of a meaningless stat.

sunshinetours

If you mean compared to global wealth then that is another conversation, but you didn't put that did you.

As others have clearly pointed out, averages mean nothing if you don't know the spread ie wealth distribution. A good few billionaires in London and a whole section of society sitting in ageing Surrey pads don't reflect the average Joe Public

But I think (hopefully) you probably already know that

SailorSam

Come on, own up, who has got my share.

Jimmy_31

MrRee wrote: »

..... if the average house is £160,000 - then that means, on average, each household has another £161,000 in savings and other assets.

So, please, no more this claptrap about how households are 'struggling' - they simply are NOT!!!

Most families on here are pretty well off in reality ..... I suppose some just like to moan rather than be happy with their lot.

"Analysts at UBS say British households have more housing and financial assets even after allowing for the higher levels of personal debt.
In a note entitled Eine kleine bank balance UBS says: "Most UK household debt is mortgage related, and a typical household buys a home to secure a safe future for itself in retirement. Put differently, a homeowning household has protected itself from any mismatch between rental payments and pension income during retirement"

http://www.telegraph.co.uk/finance/financialcrisis/8947473/UK-households-wealthier-than-Germanys-says-UBS.html

Yay everybodys proper wedged:rotfl::rotfl::rotfl:

spadoosh

The biggest bs stat i think ive ever seen! Please tell me how when the 'average' income is about £24000 people have been able to accumulate £321,000 worth of household wealth by my reckoning thats 13 years without spending a penny. And seen as ive only been working 8 and have spent a few pennies this would put me and ,im guessing here, many others, well below the average!

I would suggest the stats guy at the telegraph go back to school and learn the difference between mean, median and mode as to better work out an 'average'

Mallotum_X

spadoosh wrote: »

The biggest bs stat i think ive ever seen! Please tell me how when the 'average' income is about £24000 people have been able to accumulate £321,000 worth of household wealth by my reckoning thats 13 years without spending a penny. And seen as ive only been working 8 and have spent a few pennies this would put me and ,im guessing here, many others, well below the average!

I would suggest the stats guy at the telegraph go back to school and learn the difference between mean, median and mode as to better work out an 'average'

I think he understands exactly what hes printing. Rather like MrRee, it suits the viewpoint, rather than reflects accuracy.

MrRee_2

Remember that if you bought a home for £5,000 in 1966 it will now be worth well over £500,000 ... there are plenty of people who did just that.

It seems to me that a lot of people on here are stuggling to make ends meet and therefore cannot see the other side of the coin where life has never been easier. I do feel sorry for those in the situation I was all those years ago, very poor. But, I can assure you, with hard work and diligence the joys of having spare money will be bestowed upon you.

Graham_Devon

MrRee wrote: »

Remember that if you bought a home for £5,000 in 1966 it will now be worth well over £500,000 ... there are plenty of people who did just that.

Your point?

Have these houses had cashpoints inbuilt into the walls?

MrRee_2

The point, Sir .... is that this accounts for the wealth in the stats.