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You may remember that at first it seemed that COVID-19 was going to cause massive wealth destruction. The stock market fell and some warned of a potential fall in house prices by a third. Average household wealth did fall 3 percent in the March 2020 quarter when COVID-19 first hit, but this was only a decline, and asset prices quickly rebounded as the central bank cut interest rates to near zero and the government pumped in massive amounts of stimulus. . In general, the fact remains that wealth is still very unequal in the country, despite a slight decline in wealth inequality during the pandemic years. The report shows that despite a stagnation in early 2020, median household wealth then jumped 12 percent through December 2020, and 26 percent through December 2021. There’s no prize for guessing the biggest cause of this spike: housing, which drove 69 percent of the overall increase in wealth over the past three years. Most came from owner-occupied housing, which accounted for 55 per

The ex-wife of ex-millionaire Geoffrey Edelsten has made a legal bid for what’s left of his tattered estate. Edelsten died poor, alone in his Melbourne apartment, in June last year despite his desperate attempts to portray an image of extreme wealth in his later years. Brynne Gordon – Edelsten’s second wife – launched legal action with the Supreme Court of Victoria this week after being harassed by disgraced doctors in her final will. Edelsten’s final will reveals the dire financial circumstances the famous woman was in before her death – far from the peak of her finances, when she owned the AFL’s Sydney Swans football club and traveled by helicopter. Edelsten would continue to flaunt his wealth until he disappeared from the spotlight. His marriage to Brynne Edelsten (pictured) cost around $3 million Geoffrey Edelsten’s wooden coffin at his funeral in June Edelsten is remembered as a good doctor and courteous concern for everyone he met. Except for those who pass