Tuesday, 23 July 2013

Wealth: The median Canadian adult has twice the worth of the median American

This chart from the Global Wealth Data Book shows Australia's middle class on top, Canada in twelfth place and the US down at number 27. (Hat tip to Zero Hedge).  Houses are the biggest asset class for most people.  US house prices have taken a sharp correction since 2008 but Canadian house prices are arguably still in a bubble as long as the rent you can charge for a property is less than what it costs per month to own it.
   The chart title, "We're Number 27!" is Zero Hedge's lament.
American Middle Class
Huffington Post (cited at Zero Hedge link) writes:
"The most telling comparative measurement is median wealth (per adult). It describes the amount of wealth accumulated by the person precisely in the middle of the wealth distribution -- fifty percent of the adult population has more wealth, while fifty percent has less.  You can't get more middle than that."

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