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Although Germany is known for its post-war social market
economy, which established a generous welfare state alongside
pro-industrial policies, the Bundesbank found that half the
population had little or no wealth.
The Bundesbank identified rising property prices as driving
wealth for those who own it, while those who rent, as many
Germans do, were falling behind.
Households who own their home saw wealth jump by more than
33,500 euros ($37,800) in the four years to 2014, while those
who rent saw theirs rise by just 1,000 euros or less.
While Germany's postwar boom produced some of Europe's richest
men and women, from the Quandt family behind car-maker BMW to
the owners of discounter Aldi, reform of welfare payments and
slack wage growth mean most Germans live modestly.
The Bundesbank, which surveyed thousands of households in 2014
as part of its study, found that the bottom half of the
population had to make do with just 2.5 percent of the country's
overall wealth.
(Reporting by John O'Donnell; Editing by Catherine Evans)
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