Comments on: Nearly 1 In 4 Canadians Unable To Pay Their Bills: Transunion https://betterdwelling.com/nearly-1-in-4-canadians-unable-to-pay-their-bills-transunion/ Canada’s Fastest Growing Real Estate News Source Thu, 06 Jul 2023 15:53:42 +0000 hourly 1 By: Yoroshiku https://betterdwelling.com/nearly-1-in-4-canadians-unable-to-pay-their-bills-transunion/#comment-91184 Thu, 06 Jul 2023 15:53:42 +0000 https://betterdwelling.com/?p=23601#comment-91184 The richest 20% of households controlled 67.8% of net worth in Canada in the first quarter, while the bottom groups accounted for 2.7%

The widening wealth gap is a challenge for Trudeau. The least wealthy were affected more by recent economic pressures, seeing their net worth drop by 13.8%, more than triple the rate of decrease for the wealthiest. 

The gap in the share of disposable income between households in the top and bottom 40% reached 44.7 percentage points. The decline in net worth for all households was due almost entirely to real estate, with the average value falling by 8.6% from a year ago. The least wealthy group saw their mortgage debt rise at a much faster rate than the overall value of their property holdings… {Bloomberg has more}

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