Germans' Wealth Restricted to Small Group

Doug Henwood dhenwood at panix.com
Thu Apr 26 08:14:24 PDT 2001


Johannes Schneider wrote:


>The numbers look like this: In the western states, one-tenth of the
>households held 42 percent of the total wealth in the region. The lower 50
>percent had 4.5 percent. The richest 10 percent had assets valued at about
>DM1.1 million on average, while the bottom half had about DM22,000.
>
>A similar division exists in the east. Here, the richest 10 percent has 48
>percent of the wealth, which averaged about DM422,000. The bottom half also
>had about 4.5 percent of the wealth, but each one of these households had
>only an average of DM8,000.

Hmm. In the U.S., the richest 10% had 63% of assets and 69% of total net worth in 1998 - 76% of net worth if you exclude the principal residence and the mortgage on it. The average asset holdings of the top 10% was about $2 million, and their net worth a shade lower (since they have relatively small debts).

Doug



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