Lots of debt but not a lot of wealth

The Organisation for Economic Co-operation and Development, in a review of economic trends in Australia, said Australia's household debt surge has not brought a big increase in wealth. Between 1995 and 2005, the OECD found the amount of debt held by Australians, as a proportion of household disposable income, more than doubled to 173 per cent. The OECD said that between 1995 and 2005, Australian household net wealth increased to 734 per cent of annual disposable income from 514 per cent. Of 15 nations examined, Australia now ranked seventh in terms of net wealth, down from fifth in 1995.