While the increase in household wealth in the December quarter may be of only academic interest now, the growth in liabilities is a real issue. According to the Australian Bureau of Statistics' latest household wealth data, liabilities increased by A$21.8 billion in the December quarter - an increase of 0.9 per cent over the previous quarter.The household debt to assets ratio fell from 18.4 per cent to 18.1 per cent, as growth in household assets outpaced growth in debt - 2.9 per cent for assets over the quarter compared with 0.9 per cent for liabilities.The ratio of mortgage debt to residential land and dwellings fell from 28.4 per cent to 27.5 per cent. The December quarter saw the biggest quarterly increase in the value of residential land and dwellings since the December quarter 2009.The household debts to liquid assets ratio fell from 109.9 per cent to 109.6 per cent. Liquid assets include currency, deposits, debt securities and equity.The household savings ratio fell from $10.7 billion to $1.4 billion during the quarter. The ABS says the fall was driven by a fall in gross disposable income - largely due to a fall in dividends received.