Canadian household net worth rose from October through December as individuals benefited from a rise in real estate and stock markets.
The value of families’ assets, such as houses and savings accounts, minus their liabilities increased 1.6 percent to C$5.86 trillion ($5.75 trillion) in the fourth quarter, Statistics Canada said today in Ottawa. Canada’s Standard & Poor’s/TSX Composite Index gained 3.1 percent in the period.
The ratio of household debt to income rose to 146.2 percent in the quarter from 145 percent in the previous three months, due to increased debts such as mortgages and car loans, Statistics Canada said.
Read the full article, “Canada’s Household Net Worth Rises 1.6% as Stocks, Homes Gain” at Bloomberg (March 15, 2010).