It is uncertain how potential future declines in wealth, that would more than likely be prompted by falling house prices, would impact consumption. This is primarily because Australian households are unaccustomed to this occurring.
But as the RBA’s Financial Stability review warned this week this is becoming a significant future risk. Both as house prices rise and imbalances in the investor segment of the property market continue to build. It is notable that at least in this data series back to the 1990s that household net worth had never declined on an annual basis before the financial crisis. It has done so once during and once afterwards. The latter coinciding with interest rate rises and dwelling price declines.
We expect that households will have to get used to this cyclicality in their net worth. And this is likely a factor that will drive a new paradigm of thrift in which households exercise greater prudence than in the pre-financial crisis period.
争夺全球最大IPO！港交所：正努力确保沙特阿美在港上市 - 沙特阿美这宗潜在的IPO“巨无霸”正在考虑上市事宜。虽然外媒此前称亚洲或与此无缘，但香港联交所行政总裁李小加并未放弃希望。他表示，联交所确实围绕沙特阿美亚洲IPO进行过讨论，正努力确保这家公司能够在港上市。 对于外媒此前称沙特阿美可能不会在亚洲挂牌的消息，李小加周一在港交所年度业绩会上表示，沙特阿美作为全球...