Hot real estate market driving wealth

Globe and Mail

Canadians grew wealthier in 2014 as they saved more money while slowing their pace of borrowing, leaving many households better prepared to weather falling oil prices and recent economic downturns.  Household debts climbed 2.9 per cent on average last year while assets grew 5.5 per cent, pushing average household net wealth to $589,511 in Canada, according to the latest WealthScapes analysis by Environics Analytics.  The latest report shows real estate remains the largest component of household wealth, worth an average of $354,044 per household and accounting for 49 per cent of total assets.

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Michael James

Michael James

Sales Representative
CENTURY 21 Explorer Realty Inc., Brokerage*
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