(Source: Globe and Mail)
Vancouver has stolen Calgary’s crown as the city with the highest net worth.
In a soon-to-be-published database that looks at how Canadians handled their wealth during the rapid change of fortunes that marred 2008, Environics Analytics exposes profound changes in the way people approach their wealth.
Canadians have seen their nest eggs shrivel, beefed up their savings, scaled back their borrowing, and embraced caution, an abrupt change in attitude that will likely persist, says Catherine Pearson, vice-president of Environics Analytics in Toronto.
Generally, the research, which crunches and dissects numbers from 80 different sources and goes into deep local detail, found that the richer Canadians were, the harder they fell.
“The more money you have, the more you have to lose,” Ms. Pearson said.
Read Heather Scoffield and David Ebner’s full article “Vancouver ranks first for net worth” in the Globe and Mail (July 19, 2009).