Wednesday, April 04, 2007

Chasm in wealth distribution

Results from a Statistics NZ economic survey have just been released and they show;

As in 2001, the latest survey shows that Europeans have by far the highest median net worth ($86,900), followed by Asians ($21,000), others ($19,000), Maori ($18,000) and Pacific people ($6700).

These figures reflect, in part, the demographic of the various populations. The lower net worths belong to groups with very young populations. And Maori and Pacific people rent rather than buy properties. Also many European youngsters spend their early years out of NZ returning wealthier than they left. During the period when they have negative wealth they are not here to be counted. This will also skew the figures.

Still the differences are quite staggering. Wait till the Maori party get a hold of it. Expect a statement by lunchtime. Notice that Maori have almost three times the net worth of Pacific people. I wonder if Tariana will say anything about that?

2 comments:

Brian Smaller said...

These sorts of figures are meaningless in my opinion. If I had inherited the working class aspirations of most of my famliy my net worth would be four-fifths of SFA as well. I decided on other options in life so my net worth is more than the average for someone of my ethnicity.

Cactus Kate said...

Meaningless

Maori have their personal wealth tied up in silly communal land and tribe assets. Divide those up into shares and you get a different picture I am sure.

And even that is meaningless as they can't sell any of the assets and like Ngai Tahu are mismanaging and infighting until there is nothing left anyway.