Canadians richer than Americans for first time in history

Americans may enjoy teasing and taunting their neighbours to the north but now the jokes on them.

For the first time in recent history, the average Canadian is richer than the average American.

The net worth of the average Canadian household in 2011 was $363,202 compared to the average American household’s $319,970 worth, according to data published in Canada’s Globe and Mail last month.

That gives the average Canadian $43,232 more than the average American. And the Globe and Mail pointed out ‘these are not 60-cent dollars, but Canadian dollars more or less at par with the U.S. greenback.’

In a column for Bloomberg View, Stephen Marche, a Canadian novelist, sets out to explain how his country has stealthily crept up to overtake the U.S. in terms of a household’s average net worth.

Read more from this story HERE.

Photo credit:  _Shward_