Essays on Household Mortgage Expenditure for North Sydney and Wagga Wagga Case Study

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Generally speaking, the paper "Household Mortgage Expenditure for North Sydney and Wagga Wagga " is a great example of a marketing case study.   The demographic composition presents a challenge. A rapid increase in the number of people aged 65 years old and beyond will continue for many years (Datamonitor). New South Wales still one of the most inequitable societies in the world, with the wealthy people making six times as much money as the poorest quintile (Datamonitor). This inequality is also evident in mortgage expenditure and income distribution, including access to care and insurance coverage. in this paper, demographic Profiles and distributions and Inequalities of Household Income and Household mortgage Expenditure for North Sydney and Wagga Wagga will be explored. Wagga Wagga City Demographic Profiles Age groups – the following figure presents the demographic information for residents in terms of the age group of Wagga Wagga city of New South Wales. The figure shows that residents from 0 to 18 years old have the largest proportion while 36-50 years old is the second-largest population.

The most interesting part is that people consisting of retirement age occupy the third-largest percentage.

This makes a population not active in producing income for a mortgage payment to be 44% (18%+26%) Gender- In the figure presented above, it shows that although female dominate the population of the city, the margin of difference is not highly significant. This may have an implication on other aspects of diversity within the population. Ethnicity - presents that Locals still occupy the largest proportion of the population of Wagga Wagga, as may be expected. The percentage of each ethnic grouping also shows a diversified population in terms of the proportion of non-locals. Highest qualification achieved- the figure below shows the highest qualification of the income earners in the city.

Most income earners had no qualification in the tertiary institution as shown from the graph. A quarter of the whole earning population has vocation training positions. Occupational structure- in terms of occupation, most income earners were mostly Professional followed technical and trades while mangers are third. This is shown in the graph below. 10.65% of income earners occupy laborer positions. Household income distribution and inequality in Wagga Wagga The figure below shows percentage distributions of households in Wagga Wagga by income categories.

According to the information above there exists a drastic change in the socio-economic landscape within the geographical confines of Wagga Wagga city. The findings show that during 2011 the composition of income was $0-$999 had 44%, $1000-$1999 had 33%, $2000-$2999 had 16%and others have 7%. The share of very low income and middle-income in the neighborhoods to the total geographic area has more than 77% total. In sharp contrast, the share of high and very high-income neighborhoods has increased from 24% to 26%.

On the other hand, the share of middle-income neighborhoods has drastically fallen from 82% to 53%. These changes in the composition of the localities are even more prominent in the Wagga Wagga city. These few figures alone paint a gloomy picture of the deteriorating social conditions within the Wagga Wagga city i. e. people capable of paying for a mortgage since low income and the middle class in large numbers. Consequently, the city of Wagga Wagga will have to face a situation in which its residents will be living in a completely unfair society; where the poor socio-economic classes will not have access to the same mortgage payments.

This will eventually create a situation in which the society would become divided into different segments; each of which will abhor and detest other social groups. The above analysis may look like a satirical mocking of the situation, but the probability of such a situation is actually quite high. Furthermore, the racial polarization between different ethnic and social groups has also been deepened. In simpler terms, the whites enjoy higher income as compared with other ethnic minorities and immigrants.

In this regard, it can be predicted with quite a certainty that the share of white population will continue to decrease whereas this ethnic segment will continue to hold and control a majority of the resources within Wagga Wagga city. The data was used to calculate Gini coefficients as follows;


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