08.10.2012 - Australia's property market has a financial literacy crisis, not an affordability crisis
According to some, Australia has an (under-supplied) housing crisis and an affordability crisis. I donít subscribe to either claim. I agree we have a crisis. A very big one. But itís got nothing to do with undersupply or affordability. Our crisis is a financial literacy one. Letís get this clear: there is a big difference between general intelligence and financial intelligence. A respectable occupation, a university degree, business ownership and a six-figure salary may imply a person has above average intelligence. But these are simply the byproducts of that person using general intelligence to generate income...............................................Full Article: Source
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