Canadians’ net worth up 8%, rebounding from downturn
TORONTO – Canadians’ fortunes appear to be in good shape, with their net worth up nearly eight per cent on higher real estate and investment values.
That’s according to data from Environics Analytics, which found that the average net worth per household last year grew by 7.7 per cent to $442,130.
Consumer debt was flat and real estate performed more predictably compared with recent years – increasing six per cent over 2012.
That suggests that although many Canadians still face higher-than-normal unemployment, they are bouncing back strongly from the 2008 economic downturn, Environics said.
Nationwide, the new data indicate that stock portfolios are growing, savings are on the rise and mortgage debt has ticked up only modestly.
The report includes 121 financial and investment statistics from a variety of sources, including the Bank of Canada and Statistics Canada.
© 2014 The Canadian Press