11 August 2014
These numbers show that Canadian citizens have finally recovered from the global economic crisis of 2008, even though unemployment level is still too high in certain areas.
“In general, 2013 was a great year for Canadians’ finances,” – said Peter Miron from Environics Analytics.
“Many consumers took advantage of the stronger housing market. In addition to it, they saved more money, while not taking more debts – probably, they were preparing for the future. In other words, it was the best year since 2008 recession.”
Traditionally, Vancouver, Toronto and Calgary were still among the top three wealthiest cities. Moreover, the difference between them is getting smaller.
In case of Vancouver, the average household net worth was $710,095. Toronto reported $693,652 and Calgary – $680,377. Vancouver remains the leader due to its expensive real estate.