TLDR: Income inequality in Canada hit a record high in Q2 2024, according to Statistics Canada, with the wealthiest 20% seeing the fastest growth in net worth. Despite wage increases for the lowest-income households, their gains were outpaced by higher-income earners, driven by greater investment income. The top 20% now hold 67.7% of the country’s total net worth, while the bottom 40% hold just 2.8%. Younger households have reduced mortgage debt due to rising housing costs, while older households have increased theirs, possibly for investments or family support.
Hicalibre on
It’s OK guys.
We can be in the upper-half of the median income by being a Burger King manager.
RefrigeratorOk648 on
As the saying goes money makes money
Single_Rain4899 on
Your house is an asset. If the government will protect the value of that asset, and lower interest rates will cause it to increase in value, your net worth will go up. Duh.
willab204 on
It’s almost like currency debasement works against the working class… who would have guessed.
Maybe it’s time to get serious about both fiscal and monetary policy with the objective of preserving purchasing power, not giving away ‘free’ things.
5 Comments
TLDR: Income inequality in Canada hit a record high in Q2 2024, according to Statistics Canada, with the wealthiest 20% seeing the fastest growth in net worth. Despite wage increases for the lowest-income households, their gains were outpaced by higher-income earners, driven by greater investment income. The top 20% now hold 67.7% of the country’s total net worth, while the bottom 40% hold just 2.8%. Younger households have reduced mortgage debt due to rising housing costs, while older households have increased theirs, possibly for investments or family support.
It’s OK guys.
We can be in the upper-half of the median income by being a Burger King manager.
As the saying goes money makes money
Your house is an asset. If the government will protect the value of that asset, and lower interest rates will cause it to increase in value, your net worth will go up. Duh.
It’s almost like currency debasement works against the working class… who would have guessed.
Maybe it’s time to get serious about both fiscal and monetary policy with the objective of preserving purchasing power, not giving away ‘free’ things.