Handelsblatt: We are wasting our global wealth on unproductive real estate
“The global net wealth has tripled in the last 20 years since 2000 to 510 trillion dollars and is now more than six times the size of the global GDP. However, two thirds of this global wealth is tied up in unproductive real estate, and only about 20 percent is distributed among assets that secure tomorrow’s growth and prosperity. The intangible assets (intangibles), which are a measure of the progress of investments in the digital economy, even make up only four percent of our net wealth. In other words: We are living off the substance and not investing enough in the future.”
– Torsten Riecke in “World in the prosperity trap” (Our money is mostly stuck in unproductive real estate. This is how we waste our wealth), Handelsblatt from Tuesday, November 16, 2021, No. 222, page 14