STATS CAN: CANADIANS ASSETS WORTH MORE, DEBT'S NEARLY TRIPLED THIS CENTURY

Dec 07, 2017

By Bob Komsic

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The average net worth of families was $295,100 last year – up nearly 15% the last time Statistics Canada took such a survey but more than double that of 1999.
Net worth’s the difference between a family’s assets and debts.
Housing is both the largest asset and debt for Canadians.
Just over six in ten Canadian families reported a principal residence as an asset and most of these families reported having a mortgage.
But close to three in ten families were debt-free.
The share was highest among senior-led families where 58% were debt-free, which was down from 1999 when nearly 73% of those families were in that position.
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