The chart below, sourced from visualcapitalist.com shows the percentage of assets that people of differing “wealth brackets” tend to favour.
It may prove the theory that wealthier people allocate their money to assets and businesses whilst others tend to spend their money on “stuff”.
Also interesting is the significant weighting of money that the primary residence and vehicles categories account for amongst the first couple “wealth” bands.
This could prove why conversations around motor vehicle (sales, servicing, repairs, parts, insurance) and real estate (buying, selling, renting, furnishing, maintaining) are so prominent in our daily lives.
These two assets (or liabilities) are also enormous revenue raisers for governments. Just think of the registration fees, stamp duties, fuel excises, luxury car tax to mention a few.
I’d like to think that this data could provide the basis for our cultural and government propaganda surrounding the great dream of buying a house. For, if we believe in the “dream”, we’ll take out a notable mortgage to acquire a home and this will require us to stay in the workforce in order to service our debt, all in while, we are paying taxes and providing the labour force for the businesses which the wealthier bands of citizens own.
Maybe my conspiracy theory for the month.
Either way, I think the chart below is quite interesting.