12/04/2024
Check out some news article clipping takeaways from a recent Stats Canada article published by the Glove and Mail:
“For the youngest families – where the highest income earner was under the age of 35 – the median net worth of homeowners was $457,100 last year, while renters in the same age group had a median net worth of $44,000.
Homeowners aged 55 to 64 had a net worth of $1,241,800, nearly 30 times the renter median of $43,000. And for those above 65, the median net worth for homeowners was $1,081,000 compared with the renter median of $72,000, according to the data.
The Statscan survey found that home ownership provided more wealth even than an employer-sponsored pension plan. Canadians who owned their principal residence but did not have an employer pension plan had a median net worth of $914,000 last year. Meanwhile, those who did have one but did not own their home had a median net worth of $359,000.
For homeowners where the highest income earner was between the age of 35 and 44, the median net worth was $673,000 last year compared with the median renter net worth of $61,200, according to Statscan. For Canadians between the age of 45 and 54, homeowners’ median net worth was $972,200 versus $50,800 for renters.”
#2024
