Recent data indicates that Canadians are richer than Americans, but some say it might just be an illusion. An Environics study shows that Canadian families’ average net worth is $363,202, while U.S. households average $319,970. Subtracting debt from household assets equals household net worth. A household’s biggest asset by far is their home. Put another way, household net worth is property value. The U.S. housing market collapsed in 2008 while Canada’s did not. Signs show the tide is turning for both countries on this front. However, the International Monetary Fund projected Canada would have a higher per capita GDP than the U.S. for 2011—$51,147 per person vs. $48,147. Still, this is not indisputable proof Canadians are wealthier than Americans, maybe just catching up.
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