Richer Canadians - MoneySense

Richer Canadians

Here’s a change from doom and gloom financial headlines: the balance sheets of Canadians are improving.

  • The net worth of the average Canadian continues to climb as debt ratios fall. Statistics Canada reported Thursday that the debt-to-income ratio dropped to 161.8% in the first quarter of 2013 while overall national net worth rose to $7.1 trillion or $202,000 per person, an increase of 2.1% from the fourth quarter of 2012. “Higher asset prices, primarily real estate, led the advance, while national saving accounted for 3% of the increase in national net worth,” Statistics Canada said.