Toronto’s average household net worth is $553,896. That is a big number and represents a 9.6% increase from 2007. Investors increased their bank deposits by 47.2% to $116,619, avoiding stocks and mutual funds. Real estate values rose 12.1%. debt level rose by the lowest rate among all Canadian cities, by just 14.1% to $149,161.
I don’t see a problem here. I see a strong household balance sheet with money to invest. No small wonder our real estate market continues to perform well.