Median net worth of Canadian families in 2016 up 14.7 per cent from 2012

Posted by on December 8, 2017

Statistics Canada says the median net worth of Canadian households totalled $295,100 in 2016, up 14.7 percent from 2012 the last time the poll was conducted.

Housing was both the most significant asset and the biggest debt for Canadians.

The complete value of assets held by Canadians in 2016 was $12-trillio up from $9.9-trillion in 2012. The median value of total assets owned by households amounted to $440,20 up from $391,700 in 2012.

Meanwhile, the total debt reached $1.76-trillion in 2016, up from $1.41-trillion in 2012. The median value of total debt owed by households was $80,600 in 2016, up from $63,400 in 2012.

The report also found that 29.6 percent of Canadian families were debt-free in 2016.

Statistics Canada says the share was highest among senior-led households with 58.0 percent debt-free.

Courtesy: The Globe And Mail

Posted in: Market News

Comments

Be the first to comment.

Leave a Reply

You may use these HTML tags and attributes: <a href="" title=""> <abbr title=""> <acronym title=""> <b> <blockquote cite=""> <cite> <code> <del datetime=""> <em> <i> <q cite=""> <s> <strike> <strong>