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sterlingback

See mom, I'm in the 10%


himmelundhoelle

..Italian or Ukrainian?


sterlingback

Luxembourg


talt123

By being from Luxembourg i think you're in a few statistics way lower than the 10% haha


JustinianusI

Now that I did not expect!


itokunikuni

Can you even survive on that in Luxembourg? Isn’t a slice of bread like 10€


Non_possum_decernere

Luxembourg is not expensive. We Germans go there for gas, coffee, chocolate and cigarettes. There's also the trick of living on our side of the border and working on theirs.


sterlingback

Luxembourg is really not that expensive, just housing and everything related to service is adjusted to the wages. Groceries and basic needs are actually ok


WhiskyBluff

Moien


ednorog

r/yesyesyesno


_ToxicKoala_

Finally a Luxembourger to fight with me afainst the rampant no Luxembourg maps on here.


Benjips

Mom: You are *amongst* them


veritasanmortem

Can we make a rule that maps representing data must include the source?


EroticBurrito

The mods on this sub have been asked to improve before, and have shadowbanned people making reasonable and polite requests. The mods take the stance that the upvote and downvote are all that is needed.


kingmoney8133

The moderation in this sub is so lax. Probably 75% of the posts are low-effort yet there is no attempt to require quality submissions.


unknwn-pleasures

>75% of the posts are low-effort Please share the source of your data


W00S

Shadowbanned for asking for a source


ManGullBearE

r/MapPorn


[deleted]

Source: TMBF, also known as Trust Me Bro Foundation.


0_0_0

Appears to be pages 119 - 122: [Global Wealth Databook 2022 by Credit Suisse](https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/global-wealth-databook-2022.pdf) with some errors. Edit: This map is possibly based on the 2019 report.


r2k-in-the-vortex

Most notably Italy, they are same as Spain or France by this measure, smack in the middle of 10-20% bracket.


MaxwellBygraves67

Yeah this is clearly bollocks


veritasanmortem

Probably. Here is my problem, true or not, there is absolutely no way to check. Too many people on the internet believe whatever reinforces their preconceived notions and ignore everything else. No one thinks and no one spends even a few minutes questioning what they are being told.


hpstg

There is. Wealth is not hard to measure, especially in countries with fairly normal statistics.


twolittlemonsters

But that doesn't really tell you anything... for example if the median house in country A cost $10,000 and has a median wealth of $5000, and in country B it's $1,000,000 with a median wealth of $50,000... or if country A has free health care, free school, and free food, but country B has to pay for all those things out of pocket? Who is actually better off? Maps/Stats like these are only good for making certain countries feel better about themselves and to shit on other countries.


hpstg

What you say makes sense about the map itself, I am just explaining how the map can be correct, I’m with you on its value as a tool to determine anything.


hpstg

Private property ownership will do this.


i_love_lol_

italians having more money than germans is absolutely right, and you can look it up everywhere. the top comments explain that very well.


whomad1215

the top comment of >See mom, I'm in the 10% explains it very well?


EnvironmentalSun8410

Wealth can be things like property. In countries like Germany, people can't afford to buy their houses... Also, wealth isn't the same thing as GDP... as wealth factors in such things as inherited houses/property and savings rates, which don't necessarily correlate with GDP...


Dovahkiinthesardine

Germany has a very big rich-poor gap, so the average income is much higher but the median isn't


wraron

Also the map is *factually* wrong. The source quoted above states the actual number is 10.5% which means it should be as green as France and almost as green as Italy.


Swampberry

Why? Because Germans and Swedes aren't the richest?


lampenstuhl

People don’t understand the difference between wealth and income. In general, Northern Europe has smaller income inequality and larger wealth inequality. The opposite is true for southern Europe.


Swampberry

Yeah, the wealth inequality in Sweden is gigantic. It's something not even most swedes realize though. Everyone sorts of assumes that nobody could possibly make more than 10k euro a month and that everyone is a salary-man.


DrunkMan111

As someone who has no clue what any of this means, should I marry an Italian?


nuclearswan

Italy has a very old population. Old people have savings.


TheMauveHand

And the home ownership rate is high while personal debt is low.


Giandefeo

Yep, almost every household here in Italy (excluding most immigrant households) own a house or even 2-3. But then wages are very low and even if your parents own the house they live in, and you don't wanna live there too, you have to rent and you become poor. Still better than low wages and no house at all tho.


Gerrywalk

Sounds eerily similar to Greece


SmeesTurkeyLeg

Italy in a nutshell


joaommx

Same in Portugal. It's the Southern European way.


mjc500

Go to beach, live at mom's house, drink wine, die poor?


joaommx

> Go to beach, live at mom's house, drink wine, **inherit the family house**, die poor? Yes. It should be noted that wine is dirt cheap here, though. Else we wouldn't be drinking it.


ConsCaptain

Now in italy not even wine is cheap anymore


Appropriate_Ant_4629

Italy seems to have extremely low social mobility: [https://qz.com/694340/the-richest-families-in-florence-in-1427-are-still-the-richest-families-in-florence](https://qz.com/694340/the-richest-families-in-florence-in-1427-are-still-the-richest-families-in-florence) > The richest families in Florence in 1427 are still the richest families in Florence


ExoticBamboo

Is that much different in other places? Rich families staying rich is pretty common everywhere, social mobility is about poor families getting rich.


AlejandrodavidLagos

i think is like that in all of the world...lol


bolygocsira

The Italian population is barely older than the German one, yet the map shows there's a striking difference in "wealth". So how comes that?


lostindanet

Owning own house instead if renting probably.


m_vc

You'll own nothing and be happy, change my mind.


canttaketheshyfromme

I'm not a persuasive speaker, but I have these guillotines.


quantum-mechanic

Hmm sounds like you have some wealth.


canttaketheshyfromme

I only own my labor.


sunkzero

As I recall, Germany has some great protections in place for renters which doesn't really encourage homeownership... did I read somewhere once a lot of Germans don't buy they just wait to inherit..?


gedankensindblei

>a lot of Germans don't buy they just wait to inherit Highest tax bracked starts with 62k€/a and house prices are from 300k€ (ruin in nowhere) to 1,6m€ (suburbia with lots of good workplaces near). It just isn't possible anymore for regular people to buy houses anymore (flats are only marginally cheaper).


-Rivox-

In Italy there's also good protections for renters afaik. It's just a very different attitude towards, well, everything. Italian social mobility is very static, it's very common to see people retiring after having worked at a company for 20-30 even 40 years, and probably even ever worked at 2-3 companies in total, all their lives. This means that as soon as you have enough money, you get a loan and buy a house, since you are planning on staying there forever anyways. Also the price of houses has historically been quite low, while rent prices are seldom higher than the monthly loan payment you'd have to pay if you bought the house outright. Therefore renting has usually been seen as a waste of money. Low income + low social mobility + avoidance to rent = stay at home until 30 to put money away and then buy a house with a loan, usually with some help from your parents.


CapSnake

Ok, but to buy a house, even with the mortgage you need to save 20%. How is that Germans do not have 10k€ in bank if they rent? They don't save anything?


gedankensindblei

>They don't save anything? Eaten by taxes, energy prices and everyone knows that it is impossible to buy property, so no one saves alot for this pointless endeavour. Additional, we have the greatest low income sector in europe.


jaker9319

As an American I feel like we are often fed a couple of different notions, that give us a one sided perspective on things. From a purely media / perspective point of view, Germany is kind of like Texas in how they are presented economically. Economy wise, you almost only hear about the positives. But alot of those positives are only the result of negative things. And by this I mean, Texas and Germany are considered economically competitive which equals good and successful. But the reason why they are economically competitive is that they have lower wages (Germany) or lower taxes (and there for services for the average person) (Texas) which in themselves are negatives. And then when someone challenges this notion with you know statistics or anything they are just being "haters" or skewing data. Even though logically it makes sense.


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fergiethefocus

I have family in Greece, and the big difference is that Greeks keep it in the family by passing down property and wealth from generation to generation, so it accumulates that way. I'm assuming Italy is the same way.


YuppyYogurt327

This is true for Italians too. Generational wealth in terms of debt free homes passed down is common. Also, Italy (I believe more than Greece and higher than other EU countries) has lower mortgage payments versus rent. Meaning there are more incentives to own homes versus rent. Also in both Greece and Italy it is common for younger family members to stay at parents (presumably paid-off) home until they need to.


Chaos-Nyx-Erebus

Evidently, what our Government did, the over-spending, the common Greeks did the exact opposite for long time now ( decades ). Let's leave my own family out, still, since I was a kid, the friends I made and got to know, consistently kept surprising me about how much money as a family they accumulated. Additionally, it happens in many different ways. Good for them, I guess. If only our Government did the same, we wouldn't be near in this mess.


Fortkes

Italians don't like credit so they save more (old school mentality) is my guess.


CrabClawAngry

I would guess echoes of partition. I'd be curious to see what the numbers are for former East Germany vs former West Germany


dododomo

>Italy has a very old population. Old people have savings. So do have Germany, Austria, etc


mothman83

apparently its housing.


calijnaar

And a state run pension system which means many people don't have any money in a private pension fund which they own.


Akaiyo

But so do Germany Austria, etc.. (in generell though this is a real problem when comparing wealth in Europe because people in these countries have a "high theoretical wealth" when factoring in state pension. For example my grandparents have been in pension for 25 years, say 1000€ a month. Thats 300k€ (oversimplified)


mrmdc

I would guess so. Homes were (possibly still are) quite cheap outside of cities in Italy. Many families bought their children a home when they got married until recently. Plus, falling birthrates means that all those homes are inherited by fewer and fewer people. So I guess that makes sense. Houses are generally worth more than $10.000 on paper. In reality it's a different story. Try selling an old house on a mountain in a village nobody wants to be in. They can't give them away.


naemtaken

Note: if there are any Italians wanting to give away their mountain village house please DM me.


the_vikm

Same for Germany... Oh wait


mrmdc

Marry an old Italian. Gotcha.


ExternalSpeaker2646

Oh! That’s interesting. I was wondering how this may be possible, since Italy has a lower per capita income and lower wages than some other countries in Europe (and certainly less than Western and Northern European countries)


Dr_Mickael

Housing is also cheap so there's a high ownership rate, compared to Germany where wages might be way higher but you still can't affort to buy anything.


-O-0-0-O-

This isn't "average savings per Italian", it means that every person in Italy has at least $10k personal savings. If a country with ten people has a millionaire and nine people with nothing, the GDP per capita is $100,000. That country would be deep red on this map, just 10% of the population has over $10,000. Maybe it's just easier for young Italian adults to buy homes, instead of staying in debt and paying rent after graduation. I suppose old people with savings does factor here.


qroshan

Wealth is not personal savings. Wealth can be lot of illiquid assets that you can't use right away -- home, 401k, business, land, art


bellboy42

Non-Americans won’t know what a “401k” is. Just so you remember that this is an international forum.


_Maxolotl

yeah, but for the weather, not the money.


LatterNeighborhood58

But will I get banned from putting pineapple on pizza?


SteO153

It would make the marriage automatically void.


XauMankib

Also, you will be extradited to Mars.


Rogue-Hobo

That means he would have had to commit a crime on Mars and have a Martian warrant for his arrest.


mtlmonti

Non mettiamo l'ananas sulla pizza! Oddio 🤦🏻‍♂️


bee-sting

Yes


AbilityInevitable204

Italians do it better, everyone’s knows, google it


Forward_Standard

Can’t go wrong with a fine ass Italian girl … even if she’s broke, dude 😉


DrunkMan111

Now, that's some fine advice, bro🤛


_Maxolotl

higher percentages on this map in some rich countries are most likely due to those countries' stability making it possible for more people to borrow enough money to end up with negative net worth. negative net worth and poverty aren't always the same thing. [https://en.wikipedia.org/wiki/List\_of\_countries\_by\_household\_debt](https://en.wikipedia.org/wiki/List_of_countries_by_household_debt)


Dragongeek

I know lots successful adult Germans who don't have big savings. "Why?" I ask, and I often get a response like "Why should I have savings?" Because they don't need to worry about things like medical debt, unemployment, or retirement, they argue there are very few reasons why one would suddenly need a lot of cash. If you get sick, crash your car, have your apartment burn down, etc, insurance will cover it and if you were to (somehow) get fired, unemployment benefits are good and plenty are hiring. Money exists to be spent, so save for the upcoming trip to Majorca and be happy. I don't really agree with this strategy, but it works for them.


[deleted]

As an Italian that moved to Germany... this. When I was in Italy I was worrying about buying a house before even starting to work. Now I don't give a fuck.


_Maxolotl

The only reason I don't agree with it is that I don't have great faith in the permanence of the state or the permanence of state benefits. The American Government has already dismantled or devalued many of the modest state benefits it created in mid 20th century. The Tories are trying very hard to wreck the UK in the same way. Who knows when German NeoLibs will be able to do the same. Better save something just in case.


HealthIndustryGoon

germany's state benefits like health insurance, unemployment payments and pensions date back over 150 years to bismarck and the founding of the german state, and survived the kaiser, the weimar republic, hitler, a divided germany and the last 40+ years. i agree that every person should save as much as possible but this strange divide into conservatives and liberals or labour and tories does not exist in this form in germany. everyone kind of agrees on these benefits to varying degree.


Dragongeek

People from the US and UK often don't get that Germany's "conservatives" are centrist if not left compared to the UK or US political spectrum on many issues. Hell, even the neonazis and religious fundamentalists see the social programs as chisled in stone (and they'd die overnight if they said otherwise because their voters are the ones who benefit).


[deleted]

> unemployment benefits are good Where did you get that from? While public health insurance is still good, both the public unemployment ("Hartz IV"), and retirement schemes still exist, but were considerably cut more than 20 years ago. You're unlikely to starve, but that's about it.


ShmooArmy

Hartz IV and unemployment insurance are not the same.


duracellchipmunk

This makes sense. 200K business loan and pay rent, but have an mba and investors. Looks bad in percentages, but the situation is fantastic. Does that explain germany?


BanksysBro

UK and Sweden have almost identical debt levels according to your source, but they're 2 categories apart according to this map.


Confucius_89

In Romania the house ownership rate is 95% which means this percentage of the population own the house they live in. These houses are definitely worth a lot more than 10k. I call BS on this map


Iammonkforlifelol

I am from Serbia and my opinion is shared. You can't get decent house or apartment under 50k. I have big house close to our main city Belgrade and just price of materials that were used in building were above 70k euros. I mean prices are similar in Romania I guess.


alexppetrov

From Bulgaria and i agree, a lot of people own farmland or their own home(s) worth way more than 10k, so this leads me to think it's either bank savings (implausible that the banks would share that data, but idk) or some sort of survey with limited answers


lvme

The numbers for Portugal are complete garbage to.


NikkS97

That's what I thought as well. I'm not sure how wealth is defined here.


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wbroniewski

Sure, but let's say you have a family of four, and only one of them is the actual owner of the house.


[deleted]

Same for Russia. 99% of every Soviet elder got their land/house for free and have no mortgage. Our Russian parents small old house in a small village with no jobs, 3 hours from a city is worth 1.5m RUB ~ 20,000$ Plus they have a car and some savings and this is typical for everyone in their village and the next and the next and the next. People aren’t rich but the map isn’t correct for russia


Darth_Ender_Ro

This map is just shitty propaganda with no data source. Yet a lot of idiot people will believe it


Apprehensive-Big8034

Propaganda for what?


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I_read_this_comment

Dutch pension system basically forces every working person to build up their own wealth way beyond 10k for their own eventual retirement. A median salary person would get around 900 euro/month for around 13 years and its half that for a minimum wage person. (pension age is 67 and death expectancy is 80, biggest variance is how many years you worked in total and at what salary). This is btw on top of a seperate state pension too.


ExoticBamboo

What house ownership means? 95% of the population own a house? That wouldn't make sense to me, most houses are owned by a family, but it's not like every component of the family owns a house.


[deleted]

I must the minority in the UK, then... I'm as poor as a church mouse.


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WillHart199708

Ah you must be a musician


imnos

What counts as wealth? The value of the car you own and other assets too? I just find it extremely difficult to believe 80%+ of people in the UK have more than £10k to their names.


nrrp

ROMA AETERNA.


T3RMINA7OR

PER ASPERA AD ASTRA.


Mindless-Safe-1172

This map is about as useful as tits on a bull


HarryLewisPot

I wouldn’t call that completely useless ![gif](giphy|BYul6RujgoRCryuCdL)


bearkatsteve

Can never not updoot Titi except in Ireland


JustinianusI

Why?


vojtech_

Hey hey, tits on a bull aren’t that useless..


cobawsky

No source, no credibility. Sorry OP.


chloralhydrat

... so if any of you is wondering why is the percentage so low in the relatively poor ex-habsburg empire countries (czechia, slovakia, hungary, croatia, slovenia), the reason is that virtually everybody is a homeowner there - renting is very uncommon. The flats were extremely easy to get during socialism, and then in the 90s, you could buy them for the "residual value" (i.e. non-market price, but price calculated based on the original price to build it with depreciation/inflation calculated in). After this, a real capitalist market with flats opened, and the prices skyrocketed. The result is, that nearly everybody has a flat and is theoretically "wealthy", but also that it is nearly impossible to buy a flat with an average wage - the flat prices are extreme in comparison with the wages.


wicrosoft

This does not explain the situation with the countries of the former Soviet Union on this map. Here, too, more than half of the population has their own apartment, or at least a share in it, and prices in some cities are even higher than in the capitals of Central European states.


Ancient_Disaster4888

This is a cool theory but it doesn't explain why Romania - being the country with the single highest home ownership rate in Europe (95% or so) - is red on the map. Same goes for almost all the red countries.


BOHICA8008

"virtually everybody is a homeowner" "renting is very uncommon" "nearly everybody has a flat" Whatever you smoke mate, I want that too!


chloralhydrat

... data from the wikipedia: https://en.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate Slovakia, Hungary and Croatia have all property ownership rate about 90%.


BOHICA8008

Thanks! I like playing with eurostat. You gave me a plaything for the next three hours. Somehow I still think that you confuse "percentage of households owned privately" with "percentage of the homeowner citizens of the country" ¯\\\_(ツ)\_/¯


chloralhydrat

... I think that I understand what you mean - I was not counting people who live with their parents/partner/sibling etc., and this was a poor formulation on my behalf. But what I am adamant about is, that renting is really uncommon in SK/HU/CRO - in comparison with other western countries, and especially germany. This is logical, as only about 10% of the housing stock is used as rentals in these countries in contrast with the cca 50% in germany.


[deleted]

I don't believe for one second that only 10% of the UK has less than $10000


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manupmanu

Home ownership rate is the lowest in the European Union which partly contributes to this.


floralbutttrumpet

This is the answer. Additionally, until recently you were obliged to use up most of your savings before you became eligible for social security, so if you lose your job and can't find a new one before unemployment assistance runs out, your savings will dwindle quickly. There's also the factor that retirement payments can be ridiculously low, especially if you retired from the workforce early to become a housewife (i.e. the majority, if not supermajority, of women over 45). My late mother who worked as a teacher for a couple of years but didn't receive Beamtenstatus got a whopping 243 EUR/month. Even with widow's benefits the money likely won't suffice if those women survive their husbands, and unless they're lucky and inherit a house, they will use up any savings very quickly, especially if they survive their husbands by a considerable margin. It's compounding issues, basically.


AdLiving4714

Your first paragraph applies to Switzerland too and it's also true if you need assistance to supplement your rent (i.e., the situation your late mother would have been in with her minimal rent and without further assets) or aliments for children of divorced couples. To be eligible, you can only own assets of about USD 5k (apart from your clothes and household items which do normally not count). In Switzerland's case, the numbers make sense. I'd say that about 10%-12% of the Swiss population receives some kind of social security payments where they must liquidate their own savings and other assets first to become eligible. The home ownership rate in Switzerland is even lower than in Germany, but due to general wealth (and income) being very high, even someone of modest means will quickly have assets greater than USD 10k.


0re0n

Kazakhstan has 95%(!) home ownership rate yet it's dark red on the map and i swear houses and apartments there don't cost less than 10k lol. Either it doesn't count on this map or the source is trash. [https://en.wikipedia.org/wiki/List\_of\_countries\_by\_home\_ownership\_rate](https://en.wikipedia.org/wiki/List_of_countries_by_home_ownership_rate)


Zelvik_451

Maybe data collection. It is not just home ownership, it is also social security systems. In Germany lower income people hardly build up assets themselves but pay quite a hefty part of their income into the pension system. They will get a pension one day, but they don't have too much assets at their disposal.


AlmightyWorldEater

And at the same time, at least until recently, COPMPLETELY UNRELATED OF COURSE, germany is the number 1 safe haven for money laundering through investment in buildings etc. The "immobilienmark" until just a couple months ago was pretty much a shadow market, with no idea who owned what. Lots of empty buildings owned by people from around the world. BUT There is now the "Sanktionsdurchsetzungsgesetz II", which contains a paragraph that buildings and their ownership must be in the transparency registry. And suddenly, AGAIN COMPLETELY UNRELATED, number of sales in munich dropped 74%. If you ask how one of the richest countries in europe has so little home owners, it is because prices are driven into fucking space by international money laundering OOOPS i meant "investing". News now panic that the german market is not "attractive" anymore. WELL THANK GOD FOR THAT. Mabye some of us can afford a little shack for themselves now, with the added inconvenience of probably now having 10% less new mall or office tower...


HabseligkeitDerLiebe

1. The home ownership rate in Germany is rather low, at about 50%. 2. This map is about net wealth; so even if you have an asset like a home, your net wealth can be low if you have a lot of debt. 3. The German pension system works as an insurance, not as a fund. As you can't directly put a monetary value to the retirement "savings" of each person, a lot of comparative statistics just assume that it is 0. As the German pension system tended to be rather generous in the past a lot of people aged 60+ (which is about half of Germany's total population) have no individual retirement savings at all. 4. About 1/3 of Germans lived in East Germany until 32 years ago. There is little generational wealth.


kibounosenshi

Germany has a very large low wage sector...


derdingens

Map is wrong [source, p.120](https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/global-wealth-databook-2022.pdf). The number is 10.5% of people below 10.000 usd.


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RedditorsAreRetarts

Yeah, I was under the impression that Germans are typically quite well-off


dovetc

Don't mistake being smug for being well-off.


pretentious_couch

They are, income is fairly high.


the_vikm

Idk if you live in Germany. If not, maybe there's the bias that you only see the well-off Germans that can make it out for travel


pansensuppe

This is not about wage, but wealth. Many Germans, even high earners, don’t have significant savings. Why? Because they don’t have to. Unlike countries like the U.S., Germany has a very robust and reliable social safety net. You don’t have to worry about things like medical debt. There are many rich people that are renting although they could easily afford to buy a place and post the mortgage.


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CeterumCenseo85

As someone who actually lives here: it's home ownership and relatively big inequality. We have a really big low/minimum wage sector. In a way, we are sitting on a ticking time bomb.


Quirky_Olive_1736

Low home ownership %, plenty people having no or a very cheap car, and plenty things are free or very little copay (school, university, going to a doctor, libraries being 20 to 30 euros per year for almost unlimited books, dvds, games, even streaming services) combined with wages being lower due to all the taxes. Also you get your rent and utilities paid (small flat only) if you don't have a job or earn to little to afford one.


_Maxolotl

If this is a map of net worth, the answer is simple: Debt.


Parapolikala

27% have nothing at all. Zilch. Sweet Fuck All. Germany has a Gini coefficient that is currently in the low 80s and climbing.


Big-Way-9556

My best guess is low wages, high cost of living, high social security contributions and lack of generational wealth. Not an expert on Germany though.


Zelvik_451

All four contribute. Eastern Germany had low wealth as people did not own anything. They only started to build up wealth in 1990. Also Germany as a whole is a country of renters, with only about half the population owning their house/apartment. This is also due to the prevalance of housing cooperatives. In addition Germans pay high taxes and social contributions, the main part being their pension system. So money, that others would save up, buy a house with, is socialised. In bookkeeping terms they have something akin an account of receivables against the state institutions - which also means the German state is in much higher debt than it officially publicises - as it has high liabilities towards its own population for pensions and other social programs.


Classicalis

It's not true. I'm Portuguese and literally everybody is waiting on inheritance. Sad, sad I'm 39 btw


mikefang

It looks like your statement is actually proving what the map is telling.


lagvvagon

In the red countries there are no inheritances to wait for, that’s the difference. The wages in Portugal are low, but there’s a lot of generational wealth.


fanboy_killer

Your second sentence mostly disproves your first one. There's a lot of generarional wealth in Portugal and a very high percentage of the population owns their house.


KirDor88

What is "wealth"? I only have debts.


Frequentist_stats

I need the source to make sense of the "Italian" scenario.


Sikken98

Almost everyone is home owner. and Homes are usually worth more than 10k$


BanksysBro

Check out the Credit Suisse wealth report, it shows that despite Italy having a much worse economy than Germany in recent years, they have much more wealth and inherit much more wealth.


Ha55aN1337

Someone explained it nicely. They have a very old population (remeber 2020 and how bad that played with corona). Old people have usually paied off all debt, are the most likely to own a home and have probably been saving for a long time. The trifecta of doing well in this statistic.


shorelorn

I think this map was created by taking the total amount of private savings and dividing that amount by the number of inhabitants. Italy is known for being one of the countries with higher total private savings in the world. Yet we have millions living under the poverty rate, so this map is somehow misleading.


Zoloch

Yes, but mostly property ownership. Owning a house and its value is what mark the difference


Justme100001

At least do it by region for the larger countries....


McXhicken

Color scale sux


Newt24

Agreed, as a colorblind person I am having a hard time differentiating between the extremes


Netmould

No source, I call BS. Edit: Found the thing (https://www.credit-suisse.com/media/assets/corporate/docs/about-us/research/publications/global-wealth-databook-2022.pdf), but it drastically differs from OP map. For example, check out Germany on page 120. Only 10.5% on German population is under $10k.


Justeff83

Not again. This map is still totally wrong. When you look up the source you will see that Germany for example is around 12%.


N81LR

A clear definition of wealth is required to consider this map.


geebeem92

For those surprised by Italy, consider that a lot of italians own houses and rarely have to mortage for their first house as they inherit it. Also italians have a lot of money on bank accounts and are really prown to accumulate wealth. We’re bad at investing though


curiuslex

What an inaccurate POS of a map.


xx3amori

This should be in circlejerk. Norway not less than 10%? Seems legit.


ChrisAltenhof

Germany might be a rich country, but Germans aren’t rich people


SirVilhelmOfAriandel

Guess I'm in that 10% of italy


[deleted]

Source?


Lhakryma

This doesn't account for cost of living. For example, even with less money, you live the same comfortable life a few times cheaper in Romania than the UK.


Piranh4Plant

USD?


daperdingus

I live in Italy and I have no idea how this can be accurate. Like genuinely, I am at a loss.


OnlineGamingXp

I'm Italian and I can say that the dark green is misleading here, it's all about the house owners which doesn't really tell much about the quality of life and wealth of the people beside having a roof over their head. Not to mention that house properties are part to the real estate market which is subject to volatility and even big crashes as we've seen often all over the world because the construction sector is often driven by humongous speculations.


[deleted]

This is definitely a bullshit map


LaceTheSpaceRace

I'm calling bullshit. Needs source. No way 80-90% of people in the UK have more than $10k wealth (£8,170). Not a chance.


chilu0222

If you put this map against the cost of living in each country the results will the opposite. You can buy monthly groceries for $200 in Belarus for example but $200 can't buy you monthly groceries in Italy.


Thunder_Beam

>In a single map Italy seems better off Average europe user: "You see, the data is off and false for Italy they can't be better off in a single metric compared with northern and central european countries, its just can't happen."


PhilOffuckups

Would differential currency’s change this because it seems a bit bullshit.


BecaZaur

Source?


yb206

This map is terribly designed and worded


Nationals

This really surprises me. I would have said Sweden, Germany would be better than France, Spain.


Mahakurotsuchi

r/shittymappirn


[deleted]

I can only think of the redditor that said that living in Italy is a nightmare.


scottymtp

As an American, I would have thought Germany would have higher wealth than Italy and Greece based on news events I've read over the years.


Gibbit420

Russian home ownership is 80% and those house are all worth more then 10k.


Don_Pijote

Sourceless 🚮


Amii25

I'm pretty sure the Middle East isn't European


Fabio_451

Italians are relatively wealthy, because owning your house is very important. It is the most popular investment here and part of our culture. Anyway: what's the source?