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Economics

Canadians’ Net Worth Surges on Housing But Renters Left Behind

  • Homeowners accounted for more than 90% of wealth gains
  • Real-estate values jump by record 9.5% in first quarter
The Housing Boom That Never Ends Already Wiped Out All Short-Sellers
Photographer: Cole Burston/Bloomberg
Updated on

The pandemic real-estate boom has made some Canadians richer, while others languish.

The net worth of the nation’s households increased by about C$770 billion ($633 billion) in the first three months of 2021, a record 6% gain, to C$13.7 trillion, Statistics Canada said in a report Friday. Since the start of 2020, that figure has increased by more than C$2 trillion, largely thanks to rising home prices.