Released: 2022-08-03
This release of the distributions of household economic accounts (DHEA) shows that households in the lowest two wealth quintiles and those aged younger than 45 years increased their average net worth at a faster pace than wealthier and older households up to the first quarter of 2022. Net worth for wealthier and older households remained relatively stable, because increases in their real estate values were offset by reductions in the value of their financial assets. While younger households’ economic well-being may be affected by higher debt-to-income ratios, recent stability in debt-to-asset ratios may serve as a means to offset these risks.
While the DHEA provide important insight into economic well-being in Canada, the results in this release focus on the trends in wealth for an average household with certain socioeconomic characteristics, such as by…
