Majority of Canadians now have more debt than savings, StatCan says. Here’s why the wealth gap is widening
Majority of Canadians now have more debt than savings, StatCan says. Here’s why the wealth gap is widening
The wealthiest 20 per cent of Canadians recently accounted for more than two-thirds of total net wealth in Canada.
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I feel like this chart tells a pretty clear story about where all our affordability issues are coming from.
I also suspect if the top quintile were separated out into it's own graph of this nature, it would probably have a similar look where the majority of the wealth held by that 20% is held by the top few percent of the group.
Just for personal reference, do you know when the statistics for this graphic were collected?
According to the article it's Q3 2023. From what I can tell the data is drawn from here, which is sourced from the National Balance Sheet Accounts which are updated quarterly.
Thank you