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Wealth in Canada on the rise: report

Up 3 per cent since 2007


 

Thanks to a sturdy housing market and sound banking regulations, Canada’s wealth is on the rise from 2007 levels, according to a new report released by Credit Suisse. The study, which looks at countries around the world, found that wealth in Canada is up 3 per cent from pre-recession levels. Contrast that with the situation in the United States, where the nation’s riches are down 8 per cent. Canada ranks eighth in the world for collective household wealth, and 13th when in comes to wealth per head. The average adult Canadian is worth U.S.$245,000, compared with $248,000 for the average American. That’s a dramatic change from 2000, when Canadian adults had an average wealth that was 56 per cent of the U.S. figure. The Canadian section of the report, however, does not look at household debt levels, which have been swelling for years.

The Globe and Mail


 
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Wealth in Canada on the rise: report

  1. I’m sorry, what?  The average Canadian is worth $245,000 if you don’t include their debt?

    I sure hope no Canadian taxpayer’s money went into printing this totally useless compilation of numbers.

  2. The first two stories under this tag should be enough to tell anyone why we need media literacy classes: http://www2.macleans.ca/tag/canadian-economy/

    The report itself tells people why they shouldn’t invest with Credit Suisse.  Seriously, measuring wealth without taking debt into account? That’s like trying to say what the weather is without looking outside.

  3. Average shmaverage. Jeez, I’ve never felt more like one of the 99% than right now…

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