Canadians richer than Americans

Believe it or not, Canadians are wealthier than their neighbours south of the border.

In the fourth quarter of 2012, Canada’s net worth was at a staggering 648% of its GDP while that of the U.S. was 550% in the same period, reports WSJ.com.

On the flip side, though, Canada’s riches grew mostly as a function of its overheated housing market which puts it on a “very shaky foundation.”

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Staff

The staff of Advisor.ca have been covering news for financial advisors since 1998.