The household debt-to-income ratio in the first quarter of 2024 was down to 176.4 per cent, the lowest level seen since the first quarter of 2021.
Canadian households were wealthier on average in the first quarter of 2024, according to Statistics Canada — but that doesn’t mean all Canadians became richer.
Net worth, or the value of all assets minus debt, climbed by $548.2 billion, about three per cent, to $16.9 trillion, driven by strong equity markets and a rebound in home values.
Overall, the value of residential real estate rose $213 billion in the first quarter after two consecutive declines in the second half of last year. Meanwhile, investors reaped gains from stock markets, as the S&P 500 Index was up by 10.2 per cent in the quarter, while the S&P/TSX Composite Index rose 5.8 per cent.
This story is from the June 14, 2024 edition of Toronto Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the June 14, 2024 edition of Toronto Star.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 9,000+ magazines and newspapers.
Already a subscriber? Sign In
A comfortingly disquieting presence
Whatever the medium, comedian mastered the art of always being right for the job
A half-baked publicity stunt
‘The Last Timbit’ is just a 75-minute commercial
Canada's telecom sector betting on AI
Customers increasingly likely to encounter technology
City lacks funding to alleviate shortage
Chow says Toronto has capacity to operate more beds, but needs support from province following closure of Parkdale location
The Costa doing business
Portugal keeper thwarts three straight to beat Slovenia on penalties
Predators make the biggest splash
Nashville commits more than 100M in new salaries, adding Stamkos, Marchessault and Skjei
Spending on defending
Tanev headlines bolstered blue line, while Stolarz joins Woll in crease
Family-sized dwellings in short supply
The cognitive dissonance could scarcely be more jarring.
Hurricane Beryl wreaks havoc
Category 4 storm hits southeast Caribbean, warning in effect for Jamaica
Israel orders Palestinians to evacuate Khan Younis
The Israeli army ordered a mass evacuation of Palestinians from much of Khan Younis on Monday, a sign that troops are likely to launch a new ground assault into the Gaza Strip’s second-largest city.
