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Strategies & Market Trends : The Residential Real Estate Crash Index -- Ignore unavailable to you. Want to Upgrade?

To: KyrosL who wrote (17498)	2/18/2004 1:30:21 PM
From: Elroy Jetson	Respond to of 306849

It does seem apparent that the wealthy in America have a higher net worth than the net worth of the wealthy in Australia. This results in a higher Median net worth in Australia, but a higher Mean net worth in America. This does not surprise me as Australia is largely a "Middle Class" nation where social programs make poverty impossible to achieve and a high degree of social mobility makes wealth more a function of success rather than inheritance. However, this does not preclude the wealthy from living an opulent lifestyle. Forty room mansions on a choice water view lot cost considerably less in Australia. And I can assure you the wealthy have one in every major city. Rupert Murdoch, the major shareholder in News Corp / Fox etc became an American citizen to get around U.S. laws which restricted ownership of television stations to Americans, but he still owns his mansions in Australia. Although the number of immigrants who enter Australia each year is much higher per capita than that of the U.S., only the very wealthy can afford full-time maids. Car washes are automated and Valet Parking almost non-existent.