Germans are richer than official statistics show

Frankfurt It is a widespread impression: the gap between rich and poor in Germany continues to grow. There is an upper class that is becoming increasingly wealthy, and a large mass with stagnant or even declining wealth. But is that really true?

Three economists have remeasured prosperity in Germany and its distribution – based on marketable assets such as money, business and real estate values. Thilo Albers from Humboldt University, Charlotte Bartels from the DIW research institute and Moritz Schularick from the University of Bonn took a deep look at the statistics. How large are the assets, when is one considered rich, and how is wealth distributed in the country?

The first finding: the official figures clearly underestimate German prosperity. “Germany is considerably richer than the official statistics show,” write the economists. However, this unrecorded wealth is only reflected in the better-off half of the population.