In what is an absolutely "on-topic" post for this newsgroup, I can
report the following:
- Between 2005 and 2012, the Median Net Worth of Canadian households
increased by 44% to $243,800 in 2012.
- Between 2007 and 2010, the Median Net Worth of american households
DECREASED by almost 30% to a paltry $77,300 in 2010.
If anyone can find more recent US numbers (ie - household net-worth for
2012) I dare you to post it.
The american dream - Alive and Well in Canada.
The american dream is a Canadian reality.
The american dream is no longer home ownership. The american dream now
is to collect food stamps and social-security disability.
=============February 25, 2014
In a report that takes a long view on the state of Canadian finances,
the agency finds that the 2012 medium net worth among family units of
two or more persons has risen 44.5 per cent since 2005 to $243,800,
and almost 80 per cent from 1999.
Meanwhile in the USA...
Income and net worth fell from 2007 to 2010.
NEW YORK (CNNMoney) -- The average American family's net worth dropped
almost 40% between 2007 and 2010, according to a triennial study
released Monday by the Federal Reserve.
The stunning drop in median net worth -- from $126,400 in 2007 to
$77,300 in 2010 -- indicates that the recession wiped away 18 years of
savings and investment by families.
The Fed study, called the Survey of Consumer Finances, offers details on
savings, income, debt, as well as assets and investments owned by
The results, though more than a year old, highlight the marked
deterioration in household finances brought on by the financial crisis
and ensuing recession.
Much of the drop off in net worth -- to levels not seen since 1992 --
was attributable to a sharp decline in housing values, the Fed said.
In 2007, the median homeowner had a net worth of $246,000. Three years
later that number had fallen to $174,500, a loss of more than $70,000 on
Families who reside in the west and south, where the housing market was
especially hard hit by the recession, were worse off than their peers in
the rest of the country.
Making matters worse, income levels also fell during the tumultuous
three-year period, with median pre-tax income falling 7.7% as earnings
from capital gains all but disappeared.
The loss of income and net worth appears to have impacted savings rates,
as the number of Americans who said they saved in the prior year fell
from 56.4% in 2007 to 52.0% in 2010 -- the lowest level recorded since
the early 1990s.