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Canadians getting richer

by | Aug 16, 2013

A report by the Environics Analytics of Canada shows that Canadians are getting wealthier with average net worth topping CDN$ 400,000. This is despite the fact that they are amongst the most indebted in the world. Part of this rise in wealth is due to a tighter control by the government on mortgages and a slow down of debt accumulation. Whilst personal debt rose by a much more modest 3.3%, a gain in liquid assets and real estate achieved an increase of 5.4% and 5.1% respectively. The report also showed that Canadian households are, on average, richer than their American counterparts. Vancouver, Calgary and Toronto remain Canada’s wealthiest cities.

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