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British families have suffered the biggest fall in wealth in the developed world
(www.telegraph.co.uk)
British families have suffered the biggest fall in wealth in the rich world since the pandemic.
The average Briton’s wealth has fallen by more than a fifth over the last five years, according to UBS. The slump is the worst seen across the 37 countries it surveyed.
Typical individual wealth has fallen by around £28,500 since 2020 after accounting for inflation.
[...]
Britain suffered a worse inflation shock than other developed nations as energy costs leapt.
A slowdown in the housing market has also fuelled the wealth slump.
British families have suffered a bigger blow than those in countries such as Turkey, Bulgaria, Mexico and Kazakhstan over the past five years.
I would argue that the typical USA family has lost more wealth, but our averages are skewed by the absurd riches of our billionaires. Also I think lots of official sources have incorrect statistics when it comes to median income. Everyone I know earns less than the median personal income. I would say at least 80% of my home town earns less then the median. I don't think that changes if you look at city populations either. I think the statistics are just wrong, and the people who collate the statistics don't want us to know the truth.