Comments on: Canadian Average Net Worth Nears $1 Million As Growth Rises 3x Faster Than Normal

By: D

Mon, 31 Jan 2022 22:46:54 +0000

In reply to YT. No they’d still be negative networth.

By: Olah

Olah — Mon, 31 Jan 2022 19:40:34 +0000

Canada has official labels, which is where the label comes from. If you stop using random definitions kicking around on the internet and the government’s labels, there’s no inbetween.

How Statistics Canada defines generations is here.

https://www150.statcan.gc.ca/n1/pub/13-605-x/2020001/article/00006-eng.htm

By: YT

YT — Mon, 31 Jan 2022 19:37:35 +0000

In reply to Shane-O-Mac. Yes, your net worth is your asset minus liabilities. If you bought a house last year for $1 million with 20% down, and it increased by 30%, your net-worth is $200,000 you put down, $300,000 in accrued equity, and the amount of principal you paid down. In other words, anyone who bought a house last year in a major city is at least $500,000 at these levels, more in some regions.

By: Olah

Olah — Mon, 31 Jan 2022 19:34:42 +0000

In reply to DasHip. Pretty insane how the BoC is willing to marginalize such a large share of Canada's population like this. I find it shocking.

By: Vahid

Vahid — Mon, 31 Jan 2022 19:33:10 +0000

In reply to Im Therious.

They aren’t. It’s literally the term Statistics Canada uses. Like, an actual button that says “Millennials,” “Boomers,” etc.

It looks like they didn’t include pre-war, although it’s less than 1% of the population now.

By: D

Sun, 30 Jan 2022 21:40:24 +0000

And what’s the percentile? 60th, 65th, 70th, 75th? I assume 75th because of wealth skew.

By: Rick

Rick — Sun, 30 Jan 2022 17:24:17 +0000

You really don’t want to be in a state where you don’t own a house these days. If you don’t own a house, only your expenses, such as rent, utilities, food and gas bills, go up, not your assets. Unless, of course, if you own hundreds of thousands in stocks, but most people don’t and most people can’t hold that much for years.

By: Ndiddy

Ndiddy — Sat, 29 Jan 2022 14:51:00 +0000

Can you provide the definition of Household for these stat?

By: Kenneth Ennenga

Kenneth Ennenga — Sat, 29 Jan 2022 12:30:06 +0000

It’s inflated growth, Once the markets come back down to reality most of the gains will be given back, any house you bought in the last 2 years will depreciate by 20-30% when a privatized centralized bank hikes the rates on the money your overlords took to buy your votes during the pandemic. Enjoy it now cause the next 40 years are gonna suck.

By: Shane-O-Mac

Shane-O-Mac — Sat, 29 Jan 2022 12:12:42 +0000

I would like to understand how mortgage and household debt are not somehow included in the “average net worth”.
If I were to buy an expensive painting, and burrowed $1 million to purchase it, I do own the painting, but I would assume I am also indebted by the same amount the painting is worth — as long as I did not overpay for the art.
How can we say we have (massively) growing net worth and also massive growing household debt and mortgages?