Hush! Are you poor? Australian poverty line: a single person with a weekly salary of $400 is a poor person
The latest report of the Australian Council of Social Services shows that after more than 20 years of economic growth, one in seven Australians is still living below the poverty line.
The poverty line set by this committee in 2012 was A$400 a week for adult singles and A$841 for a family of three.
US Bloomberg News analyzed on the 12th that although the booming mining industry supports Australia's economic growth and job market, rising housing prices are eroding the wealth of more and more people.
The report shows that residents of Sydney, Australia's largest city, are more likely to fall into poverty than other cities, mainly due to high housing prices. 15% of Sydney residents live below the poverty line.
Credit Suisse Group data show that real estate accounts for 59% of Australian household assets. According to the Australian Institute of Housing and Urban Studies, the 40% of Australians with the lowest income account for 6% of home buyers.
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