Americans have seen a slight increase in household wealth as the economy slowly recovers. However, the average net household worth in Canada has surpassed the U.S. average for the first time in history.
Jim Prisching, Associated Press
The average net worth of an American household is no longer tops average Canadian wealth. Canadian households are more than $40,000 wealthier, according to Time magazine.
Over the past five years and for the first time in history, Canadian household wealth has been surpassing Americans, according to the article.
Last year, the average net worth for American households was at $319,970 as opposed to the Canadian average of $363,202, according to the Environics Analytics WealthScapes data published in the Globe and Mail, said the article.
Canada's economic growth can be attributed to the recent strength of the Canadian dollar, as well as the rocky U.S. economy and the housing market collapse.
Email: ehong@desnews.com
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If barack wants to blame conservatives and republicans for all of his problems. Then lets make a deal. We can divide the country. Democrats and liberals and illegals to one part, Republicans and Conservatives and people legally entering to the other More..
Just another slap in the face with "hope and change". Maybe if barack would have his campaign buses, paid for by US taxdollars and made in Canada. Or if he and michelle would spend their money in this country rather than every other country More..
Canada allows oil drilling and other energy products (tar sands for example). They harvest their forests. If we were allowed to do the same, million of jobs would be created. Currently we pay out over 1 trillion dollars a year to foreign countries More..