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Canadians are worth $150,500 a head

Friday, March 16, 2007
OTTAWA — Canada's net worth, the value of the country's non-financial assets less what Canadians owe abroad, hit $4.9-trillion, or $150,500 per capita, at the end of last year.

Statistics Canada says the country's net worth expanded by $131-billion, or 2.7 per cent, in the last quarter of 2006.

Much of the gain came in the rising values of homes and part came from a sharp drop in foreign debts.

On a year-over-year basis, national net worth jumped 9.3 per cent last year, well above the 5.7 per cent growth recorded in 2005.

While net worth was up, Canadians still managed to pile up mortgage and consumer debt.

Households on average now owe $1.10 for every dollar of disposable income.