Canada’s middle class is getting richer, a lot richer


Locutus
#1
via sda

Canadian politicians have been trying to make the middle class out to be a poor huddled mass of declining fortunes, but a landmark study from Statistics Canada paints very much the opposite picture.


The study, released Tuesday, shows the median net worth of Canadian families jumped 44.5% to $243,800 in 2012, up from $168,700 in 2005. Over the past 15 years, the median net worth figure leaps 80%. The numbers are adjusted for inflation and measure the amount of money left over if all debts were paid and all assets were sold.


“This shows the middle class isn’t withering away,”



The ‘paycheque to paycheque’ myth: How Canada’s middle class is getting richer, a lot richer | Financial Post
 
JLM
No Party Affiliation
#2
Quote: Originally Posted by LocutusView Post

via sda

Canadian politicians have been trying to make the middle class out to be a poor huddled mass of declining fortunes, but a landmark study from Statistics Canada paints very much the opposite picture.


The study, released Tuesday, shows the median net worth of Canadian families jumped 44.5% to $243,800 in 2012, up from $168,700 in 2005. Over the past 15 years, the median net worth figure leaps 80%. The numbers are adjusted for inflation and measure the amount of money left over if all debts were paid and all assets were sold.


“This shows the middle class isn’t withering away,”



The ‘paycheque to paycheque’ myth: How Canada’s middle class is getting richer, a lot richer | Financial Post

I wonder if they have all the statistics. I know the value of my home has deflated a good $30 grand in the past two or three years and suspect others have done the same. That is the assessed value.
Last edited by JLM; Feb 26th, 2014 at 10:04 AM..
 
EagleSmack
+1
#3
The middle class is getting richer in Canada? How dare they!
 
captain morgan
Bloc Québécois
+1
#4
Quote: Originally Posted by EagleSmackView Post

The middle class is getting richer in Canada? How dare they!


It is crystal clear that they are infringing on someone's rights.

I say execute them all
 
petros
#5
Housing bubble.
 
JLM
No Party Affiliation
#6
Quote: Originally Posted by petrosView Post

Housing bubble.

About to burst.- Maybe what it all boils down to is the fact we have more assets that the bank owns.-
 
captain morgan
Bloc Québécois
#7
Quote: Originally Posted by petrosView Post

Housing bubble.


Unacceptable.

It takes a helluva lot of nerve to think that they should be able to buy a house in the first place rather than just pay more in taxes and mandatory charitable donations... This just adds more fuel to the fire

When will society take a stand and bring these bastards to justice?
 
petros
#8
If you have made good equity over the period you didn't get richer. You got wealthier.
 
EagleSmack
#9
Quote: Originally Posted by captain morganView Post

It is crystal clear that they are infringing on someone's rights.

I say execute them all

At LEAST take that extra wealth away.
 
captain morgan
Bloc Québécois
+2
#10  Top Rated Post
Quote: Originally Posted by petrosView Post

If you have made good equity over the period you didn't get richer. You got wealthier.

Clearly they don't deserve it... And they still have to answer for the 100 million natives that they butchered in the Americas

Quote: Originally Posted by EagleSmackView Post

At LEAST take that extra wealth away.

Well, that's a start. I can go with it but only if they knee-cap each and every one of 'em along with making sure that they can't hold onto that wealth
 
petros
#11
100 Million of them and not a single one found Europe?
 
mentalfloss
No Party Affiliation
#12
The middle class are all families?

Are you even trying anymore?
 
BornRuff
#13
The report is actually pretty terrible for anyone relatively young.

According to the article, the main driving forces were a dramatic increase in housing prices and increases in the value of pension funds.

If you bought a house 10 years ago, that is great for you. If you didn't, that just means housing is now really really expensive for you.

Same goes for pensions. Most companies are getting rid of pension funds. Many of the companies that still have them no longer offer them to new employees.

Measures like this that are so greatly affected by the market price of certain assets need to be taken with a grain of salt. As you can see, echos of past prosperity have a big effect too.

If you want to judge how the economy is treating people right now, looking at real yearly incomes is a much more meaningful measure.
 
JLM
No Party Affiliation
#14
Quote: Originally Posted by petrosView Post

If you have made good equity over the period you didn't get richer. You got wealthier.

The difference being?
 
darkbeaver
Republican
#15
I wonder if the financial post is reliable.
 
Locutus
#16
not if you disagree with what it said...for some anyway.
 
BaalsTears
-1
#17
Canada seems like the land of opportunity to me.
 
JLM
No Party Affiliation
#18
Quote: Originally Posted by darkbeaverView Post

I wonder if the financial post is reliable.

Like most things a little truth, a little bullsh*t! -
 

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