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Message: <blockquote data-quote="nicjosh83" data-source="post: 24769472" data-attributes="member: 569114">According to Dr Cooper and Prof Konings, there is now a five-tier asset-based class system in the developed world.The top ranking is the “investor” group — those who don’t necessarily have an ordinary working wage but “live off the income generated from portfolios of assets through to non-asset owning classes”.It noted that in Sydney, just under 50 per cent of all apartments were owned by investors — and the statistic is often higher in central areas of the city.The second highest group are those who own their home outright. The third highest are those who hold a mortgage.The bottom two categories are called “churners” who have no housing assets. The fourth category are renters who don’t own any properties or have a mortgage. They can be wage renters or welfare renters.The homeless sit at the bottom rung of the ladder, with no income from assets, wages or the state.</blockquote>

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