Oh Canada!


 

Word out of the great white north is that Canadians are now more wealthy than Americans for the first time ever.  Several factors have contributed to this new development but the biggest without question would be the collapse in the US housing market, which in turn torpedoed Americans wealth since a house is most people’s biggest asset.  Besides the housing market the economy in Canada is stronger with unemployment at around 7.2% in Canada vs. 8.2% in America.  The real question is whether or not a long-term trend will develop where Canada is consistently more wealthy as America continues to struggle with extricating itself from the meltdown in 2008?  Only time will tell.

CANADIANS NOW RICHER THAN AMERICANS

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