Analysis: Average Canadian Household more wealthy than the Average American Household (for the first time ever)

by Colonel on July 18, 2012

Source

“For the first time in recent history, the average Canadian is richer than the average American, according to a report cited in Toronto’s Globe and Mail.

Currently, the average Canadian household is more than $40,000 richer than the average American household. The net worth of the average Canadian household in 2011 was $363,202, compared to around $320,000 for Americans.

If you’re thinking the Canadian advantage must be due to exchange rates, think again. The Canadian dollar has actually caught up to the U.S. dollar in recent years.

To add insult to injury, not only are Canadians comparatively better-off than Americans, they’re also more likely to be employed. The unemployment rate is 7.2 percent—and dropping—in Canada, while the U.S. is stuck [at] 8.2 percent.

According to the report, real estate held by Canadians is worth more than $140,000 more on average.” — Meg Handley, Copyright 2012 U.S News & World Report LP

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