Household wealth still below GFC levels

David Llewellyn-Smith

Thursday 28 June 2012

Courtesy of Mark the Graph.

Today the ABS released the March quarter financial accounts. My favourite table in this series is the household sector.

Net household financial wealth is still down on its pre-GFC highs.

Housholds are continuing to be cautious with their assets (favouring cash depositis over shares). Although, this trend might be turning a corner.

No surprises on the liabilies side.

About the author

David Llewellyn-Smith is Chief Strategist at the MB Fund and MB Super. David is the founding publisher and editor of MacroBusiness and was the founding publisher and global economy editor of The Diplomat, the Asia Pacific’s leading geo-politics and economics portal. He is also a former gold trader and economic commentator at The Sydney Morning Herald, The Age, the ABC and Business Spectator. He is the co-author of The Great Crash of 2008 with Ross Garnaut and was the editor of the second Garnaut Climate Change Review.