|Property Assets Soar
New Zealand's collective household wealth
has soared in value over the past decade, thanks mostly to an increase in the
value of property assets. According to Statistics New Zealand, the net worth of
New Zealand households rose from $886 billion in 2007 to $1.5 trillion today, a
jump of 69 percent. Kiwis are not feeling the direct effects of these riches,
however, with wealth tied up in real estate and pension funds, household debt
levels high, savings rates low, and the distribution curve far from equal.