The Average Canadian is Now Richer than the Average American?

by ~ The Rebel ~ Posted 2012/07/19 10:46:11

Related Topics: Debt, History, American, Watch, Americans, Real Estate, Neighbors, Household, Five Years, Time, Years, Year, 2011

Read More

Read all 12 opinions

Watch out, Americans: Your thrifty, socialist neighbors to the north have
stealthily become richer than you.

Over the past five years, the average net worth of Canadian households has
exceeded that of American households. So for the the first time in history,
Canadians are wealthier than Americans — by more than $40,000, on average. In
2011, the average net worth of a Canadian household was $363,202, compared to
$319,970 in the U.S., according to Environics Analytics WealthScapes data published
in the Globe and Mail. (‘Average net worth’ measures the total
combined value of a household’s liquid and real estate assets, minus debt.)

Adrint 2012/08/06 12:24:59

+1
The mistake was bailing out the private banks during the crash. That is how the US government destroyed capitalism.

reply
~ The R... to Adrint 2012/08/06 13:15:39

The first mistake was lowering the standards to become a homeowner and the banks having to cover those loans...

reply
Adrint to ~ The R... 2012/08/06 13:17:38

That too was fairly bad.

reply
Quietman ~PWCM~JLA 2012/07/19 21:44:55

+1
And when Obummer is done with us will be crossing the Canadian border to get jobs!!

reply
Chloey Hamer 2012/07/19 18:41:37

I can bet Canadians are happier on average as well..

reply
Leprachaun999 2012/07/19 14:47:59 (edited)

+1
we set more regulations on our banks We might not be insulated for much longer but it is a good start.

reply
JenSemPa 2012/07/19 14:10:47

+2
That's because Canada, at least presumably, didn't enact any legislation similar to America's absolutely insane Community Reinvestment Act.

In other words, Canada didn't pass a law pressuring (if not outright requiring) mortgage lenders to dole out mortgages like candy to people who didn't financially qualify for them.

All in the name of "fairness" and "social justice," of course.

This was a LIBERAL policy (begun by Carter, ramped up by Clinton) that is at the ROOT of the current financial problems. It was liberals who believed that everyone had a RIGHT to own a home. (Where it says that in the Constitution is beyond me.)

It was this sort of LIBERALISM that was a major reason why we plunged into this economic mess. Canada, wisely, seems to have avoided that.

reply
Wahvlvke 2012/07/19 11:34:48

+1
Thank you obie for making our dollar like yourself ... a worthless piece of sh*t.

reply
Centuri... to Wahvlvke 2012/07/19 17:17:33

+1
The food stamp president.

reply
Wahvlvke to Centuri... 2012/07/20 01:09:16

+2
And even they buy less but the crats will probably just give out more.

reply
freespire 2012/07/19 10:49:40

+1
oh you shouldn't say the price of burgers will go up not to mention the influx of illegal citizens

reply
~ The Rebel ~ 2012/07/19 10:49:25

+1
The major reasons for Canada’s economic triumph over its neighbor to the south, it seems, are rooted in the 2008 recession that rocked the United States’ economy and collapsed its housing market. American house prices plunged, and now Canadian real estate holds more value.

http://newsfeed.time.com/2012...

reply