New report finds Canadian households are wealthier than Americans
We're rich! At least, we're richer than Americans these days.
According to a recent report from Environics Analytics WealthScapes, the average Canadian household is $40,000 richer than those of our southern neighbours. In 2011, the average household net worth for Canadians was $363,202, while American households pulled in a piddly $319,970. And that's in real dollars, considering the Canadian and U.S. dollars have sat close to par for most of this year.
As well, Canada's unemployment rate is lower—7.2 percent versus 8.2 percent—and our real-estate holdings are worth $140,000 more on average. Since 2006, the percentage of Canadians living below the poverty line has dropped from 15.9 percent to 9.4, compared to 15.1 percent of Americans.
Enjoy the smug feeling of fiscal superiority while it lasts, fellow Canadians. Once you consider we haven't had a crazy lending crisis and that this wealth is mostly on paper (I sure as shit don't have stacks of money lying around; do you?), the sheen kind of wears off a little.
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