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

Locutus

Locutus

Adorable Deplorable
Jun 18, 2007
32,230
45
48
65
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

JLM

Hall of Fame Member
Nov 27, 2008
75,301
547
113
Vernon, B.C.
Locutus said:
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
Click to expand...

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:
captain morgan

captain morgan

Hall of Fame Member
Mar 28, 2009
28,429
146
63
A Mouse Once Bit My Sister
petros said:
If you have made good equity over the period you didn't get richer. You got wealthier.
Click to expand...

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

EagleSmack said:
At LEAST take that extra wealth away.
Click to expand...

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
 
B

BornRuff

Time Out
Nov 17, 2013
3,175
0
36
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.
 
You must log in or register to reply here.
Top Bottom