June 22, 2010
Canadian household net worth rose 1.3%, and hit $6 trillion in the first quarter of 2010. This is increase of $74 billion is a result of the growth in the value of assets, especially equities and residential real estate, according to Statistics Canada
“This marks the fourth consecutive quarterly improvement in household net worth and reflects a 96 per cent recovery off the net worth lost during the recent economic downturn,” David Onyett-Jeffries, economist at RBC Economics Research, wrote in an analysis.
Uh-oh, is this a result of low-interests and household debt?