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Here's how NZ households have lost a combined $255b
It’s not only that everything is more expensive - we’re also less wealthy. Data from Stats NZ shows that New Zealanders’ combined household net wealth fell $33.5 billion or 1.5% in the June quarter. It follows falls in the previous five quarters, taking the total decline to $255.2b since the peak in December 2021. Then, we were worth a combined $2432b. Now we have $2177b. Wealth is calculated as the value of all the assets owned by households, minus their debts. Stats NZ national accounts institutional sectors senior manager Paul Pascoe said the drop in the quarter was mainly due to the fall in the value of New ... (full story)