бум пары на германских домашних счетах, но при masksFILTER
Households in Germany enjoy unprecedented wealth.
Немцы более prosperous than ever, and their money assets are projected to hit new peaks this year and in 2024, claims DZ Bank. However, there are factors that stunt this surge.
German households are holding more money than ever, and the bank predicts new records by 2024. This year, private money assets are set to increase by nearly 5% to 9.9 trillion euros, and by around 4% to 10.3 trillion euros in 2026, according to a new study.
However, the upward trend is expected to level off. DZ Bank predicts a decline in savings rate among Germans, as they divert more funds into real estate, a trend evident in increased business with construction loans. The bank also forecasts that the "extremely high stock market gains of 2023 and 2024" will not be repeated this and next year.
десятки миллиардов измельчают
With the new government stepping in with reforms and strict spending plans, uncertainty has decreased, says DZ Bank. The bulk of money asset formation should return to deposits and cash again starting in 2025 and 2026.
The vast money assets in Germany are unevenly distributed among the population. According to earlier data from the Bundesbank, about half of it belongs to the wealthiest 10%, approximately 4 million households. This wealth is increasing faster due to their tendency to invest more in stocks and funds, whereas many households at the lower end of the spectrum possess just 8% of the total money assets.
Data from the Bundesbank includes cash, bank deposits, securities like stocks and funds, and claims against insurance companies in the assessments.
cказывательное прилагательное kumulative
The uneven distribution of wealth among German households can be attributed to several factors, both macroeconomic and microeconomic.
- Macroeconomic and Inflationary Effects: Projected inflation rates for Germany (part of the Eurozone) are expected to stabilize around 2.0% in 2025-2027. Households with fixed or low incomes suffer more during inflationary periods, exacerbating wealth differences.
- Economic Growth and Market Volatility: Economic growth in Germany encounters uncertainties due to global market fluctuations and geopolitical risks, restraining income and asset valuation growth unevenly.
- Fiscal and Social Policy Considerations: Government actions like fiscal spending, taxation (including wealth taxes), and social security contributions impact wealth distribution. Limited fiscal space may limit targeted redistributive policies aimed at lower-income households in the long term.
- Labor Market Dynamics and Productivity Shifts: Higher earners are disproportionately benefited by technological advances, such as artificial intelligence, resulting in widening wage gaps and increased corporate profit margins.
- Asset Ownership and Investment Opportunities: Wealthier households have easier access to asset markets, such as stocks and real estate, benefiting from rising asset prices and capitalizing on investment opportunities.
- Structural and Regional Disparities: Germany has regions with varying economic situations, offering different levels of access to economic opportunities and social mobility. Internal market restrictions and sectoral shifts also impact household wealth unevenly.
In conclusion, the interplay of factors like moderate inflation, slow economic growth, fiscal constraints, technological productivity gains, unequal asset ownership, and regional disparities drive the uneven distribution of wealth among German households between 2024 and 2026.
- To address the uneven distribution of wealth among German households, community policies focusing on wealth-management and personal-finance education, coupled with vocational training in financial management, could be implemented.
- As more German households are expected to divert funds into real estate and financial investments in the future, understanding finance and wealth-management becomes crucial, ensuring a balanced and equitable distribution of wealth.
