Unless you regard net worth as equivalent to income, you’re probably questioning this headline a bit. Not to worry, though. When the Bank of Canada is done slashing rates all the way back to zero, asset and real estate prices can get on an even steeper trajectory.
Canadians’ collective household wealth climbed to $17.3 trillion in the third quarter, marking the seventh increase in the last eight quarters — a period during which household net worth ballooned by nearly $1.9 trillion, according to Statistics Canada.
The most recent RBC housing affordability report indicated the typical family would have to devote about 60 per cent of their pre-tax income to afford homeownership today, compared with the 44 per cent quarterly average recorded in 2019.
Liberal racists in Ottawa are stuffing the pockets of their wealthy supporters with their neighbors cash, all very nice for that top 20% of canadians who are better than the rest of us…
Voters will thank Gov. Turdo for lowering mortgage payments and increasing home values with an election win if rates get low enough fast enough. Canadians are that dumb. Don’t tell me the BoC is independent. The deep state is deep and they all swarm for Clown World.
Shite! My household wealth is worth trillions, and here I am buying Spam.
My bad.
OK, let’s work that out in USD and compare it to American salaries/wealth.
#SmugCanadiansAreVeryStupid
60 percent of pretax income? So that would be more than 100 percent of post tax income.
that was her own word for marital aid
Vibrator session
Big Sale! on tents this weekend!
Low interest rates have ruined investment possibilities for us old folks who worked, paid a ridiculous amount of taxes, and saved for retirement. For every one hundred grand you can draw $600 a month and pay taxes on that for about 12 years. So you are looking at needing half a million to get $36,000 a year, and pay 20% of that back to the government. So you easily see that a million cash ain’t taking you too far if you want to live the life you did when working.