OrganicAnn Posted July 22, 2012 Share Posted July 22, 2012 Has this been discussed yet? The news that the average Canadian is now richer than the average American? I never really thought about it before. I wonder if Canadians are getting richer on average or if Americans are geing poorer on average. I heard a late night comedian saying "oh great now they'll really be getting smug up there, with all their fancy sports like hockey and their snow". Quote Link to comment Share on other sites More sharing options...
thescrappyhomeschooler Posted July 22, 2012 Share Posted July 22, 2012 Canada rocks! I'd move there in a heartbeat if it were just not so dang far north. I'd prefer something a little closer to the Equator. Quote Link to comment Share on other sites More sharing options...
regentrude Posted July 22, 2012 Share Posted July 22, 2012 Has this been discussed yet? The news that the average Canadian is now richer than the average American? I never really thought about it before. I wonder if Canadians are getting richer on average or if Americans are getting poorer on average. . The main reason is the real estate crisis. Houses have lost in value, and consequently average household net worth has declined. Canada was not as affected by the housing bubble as the US. Quote Link to comment Share on other sites More sharing options...
Impish Posted July 22, 2012 Share Posted July 22, 2012 I think in some ways, (UHC comes to mind) we have a lower COL. Quote Link to comment Share on other sites More sharing options...
Crimson Wife Posted July 22, 2012 Share Posted July 22, 2012 The study in question just looked at household net worth. If Canadians are more prudent with their fiscal resources (saving rather than spending), then of course, they will wind up with a higher household wealth. The Canadians I know are FAR less materialistic than the typical Americans. The Canadians I know don't go around driving luxury vehicles, wearing designer clothes, etc., etc. like the majority of Americans in my social circle. They seem far more sensible IYKWIM. If the Americans I know lived modestly like the Canadians I know do, they would have a much higher net worth than they do. Quote Link to comment Share on other sites More sharing options...
BinahYeteirah Posted July 22, 2012 Share Posted July 22, 2012 The study in question just looked at household net worth. If Canadians are more prudent with their fiscal resources (saving rather than spending), then of course, they will wind up with a higher household wealth. The Canadians I know are FAR less materialistic than the typical Americans. The Canadians I know don't go around driving luxury vehicles, wearing designer clothes, etc., etc. like the majority of Americans in my social circle. They seem far more sensible IYKWIM. If the Americans I know lived modestly like the Canadians I know do, they would have a much higher net worth than they do. I think this is very regional. Many people I knew when I lived in the NYC area, for example, were like this. Now I live in the Midwest, and I know very few people who live this kind of lifestyle, even if they can afford it. People are just more modest here. The level of materialism that is normal really varies across the US. Quote Link to comment Share on other sites More sharing options...
lauracolumbus Posted July 22, 2012 Share Posted July 22, 2012 They definitely aren't as good looking though. :leaving: :D I'm kidding.... :lol: I think I just read a study on this.... Laura Quote Link to comment Share on other sites More sharing options...
swellmomma Posted July 22, 2012 Share Posted July 22, 2012 Has this been discussed yet? The news that the average Canadian is now richer than the average American? I never really thought about it before. I wonder if Canadians are getting richer on average or if Americans are geing poorer on average. I heard a late night comedian saying "oh great now they'll really be getting smug up there, with all their fancy sports like hockey and their snow". Dude we are smug up here because it is where *I* live. As for the news report, Canadians were not hit with the recession like Americans were. In my province especially there was a little dip but over all we bounced back pretty quickly and things continue to improve. The housing market did drop here, my parents built a house to flip and the market dropped right before they listed. Now they rent it out as they can not sell it for what they paid let alone make a profit. I think Canadians are being thrifty with their money BUT in order for the recession to have turned around is with spending and we don't have the luxury of couponing :tongue_smilie: In major ways out COL is lower (UHC) but in other ways it is higher as any product from the US is generally marked up 30%, no coupons, many box stores that save you all money don't exist here. Those things it is higher in are fairly minor when you look at how much we save with UHC. Even looking at a family in a situation like mine in the US they could not live as well as I can because we get child tax benefit. It is not a welfare program, but it sends out a payment every month to offset the cost of raising kids. For a single parent of many like me with a small home business it makes the difference between survival and being homeless. In Canada I am destitute, compared to Americans with the same factors as me I am quite well off. Quote Link to comment Share on other sites More sharing options...
Dory Posted July 22, 2012 Share Posted July 22, 2012 The study in question just looked at household net worth. If Canadians are more prudent with their fiscal resources (saving rather than spending), then of course, they will wind up with a higher household wealth. The Canadians I know are FAR less materialistic than the typical Americans. The Canadians I know don't go around driving luxury vehicles, wearing designer clothes, etc., etc. like the majority of Americans in my social circle. They seem far more sensible IYKWIM. If the Americans I know lived modestly like the Canadians I know do, they would have a much higher net worth than they do. You must not have been in an oil town. High end vehicles and a new truck every couple years is pretty common around here. It's slowly becoming less so, but it's still pretty common. They definitely aren't as good looking though. :leaving: :D I'm kidding.... I'm not sure if our looks should be blamed on the lack of high end clothing, or from the constant squinting from the sun glaring off the snow. :D Quote Link to comment Share on other sites More sharing options...
Crimson Wife Posted July 22, 2012 Share Posted July 22, 2012 You must not have been in an oil town. High end vehicles and a new truck every couple years is pretty common around here. It's slowly becoming less so, but it's still pretty common. The Canadians I know are not from oil towns AFAIK. Mostly they're from Ontario, Quebec, or BC. Quote Link to comment Share on other sites More sharing options...
swellmomma Posted July 22, 2012 Share Posted July 22, 2012 The Canadians I know are not from oil towns AFAIK. Mostly they're from Ontario, Quebec, or BC. well see there's the problem. The ones in BC are all hippies, the ones in ONtario are all beaucrats and quebec, well Quebec is not really part of Canada anyway ;) Quote Link to comment Share on other sites More sharing options...
Dory Posted July 22, 2012 Share Posted July 22, 2012 well see there's the problem. The ones in BC are all hippies, the ones in ONtario are all beaucrats and quebec, well Quebec is not really part of Canada anyway ;) :lol::lol: Quote Link to comment Share on other sites More sharing options...
fraidycat Posted July 22, 2012 Share Posted July 22, 2012 The Canadians I know are not from oil towns AFAIK. Mostly they're from Ontario, Quebec, or BC. See, they're not really Canadians, then. ;) Totally kidding! I'm a prairie girl, myself. And PP is correct, the oil boom has created some very large ($$$$) houses, fancy clothes, and fancy cars to be more common than they used to be. Quote Link to comment Share on other sites More sharing options...
fraidycat Posted July 22, 2012 Share Posted July 22, 2012 Oh, I see Swellmomma beat me to it. I should have kept reading. Quote Link to comment Share on other sites More sharing options...
stripe Posted July 22, 2012 Share Posted July 22, 2012 Americans are getting poorer, but a few Americans are extremely wealthy. Canadians are less extreme. In fact, only 4% of Americans make more than $200,000 a year. Almost half of wage earners make less than $25,000. Quote Link to comment Share on other sites More sharing options...
AmyontheFarm Posted July 22, 2012 Share Posted July 22, 2012 well see there's the problem. The ones in BC are all hippies, the ones in ONtario are all beaucrats and quebec, well Quebec is not really part of Canada anyway ;) Hey!!! :glare: I can agree the ones in BC are hippies and Quebec doesn't want to be part of Canada anyways, but I live in Ontario and I am NOT a bureaucrat. But then I live in Southern Ontario and everyone in Ottawa thinks Ontario ends at London. So, maybe I'm not really living in Ontario, maybe it's just no-man's land. As a kid I thought I was American until I start Kindergarten because we only got US television. :001_smile: Quote Link to comment Share on other sites More sharing options...
Rose in BC Posted July 22, 2012 Share Posted July 22, 2012 well see there's the problem. The ones in BC are all hippies, the ones in ONtario are all beaucrats and quebec, well Quebec is not really part of Canada anyway ;) :lol: I missed being part of the hippy crowd . . .barely. People in my neck of the woods do like to spend money on trucks, RV's, quads, . .outdoor recreational stuff. But where I live wages are good and real estate cheap. We don't live near an urban centre. (hasn't stopped me from spending money though:)). Quote Link to comment Share on other sites More sharing options...
Dory Posted July 22, 2012 Share Posted July 22, 2012 Americans are getting poorer, but a few Americans are extremely wealthy. Canadians are less extreme. In fact, only 4% of Americans make more than $200,000 a year. Almost half of wage earners make less than $25,000. $200,000 is considered where wealthy starts?! I would've thought someone would have to make at least $400,000 to be considered wealthy. But then, perhaps that's just because of the town I'm in. Hey!!! :glare: I can agree the ones in BC are hippies and Quebec doesn't want to be part of Canada anyways, but I live in Ontario and I am NOT a bureaucrat. But then I live in Southern Ontario and everyone in Ottawa thinks Ontario ends at London. So, maybe I'm not really living in Ontario, maybe it's just no-man's land. As a kid I thought I was American until I start Kindergarten because we only got US television. :001_smile: lol We'll make an exception for you.;) Quote Link to comment Share on other sites More sharing options...
AmyontheFarm Posted July 22, 2012 Share Posted July 22, 2012 $200,000 is considered where wealthy starts?! I would've thought someone would have to make at least $400,000 to be considered wealthy. But then, perhaps that's just because of the town I'm in. lol We'll make an exception for you.;) Thank you Dori! I feel loved! :D Quote Link to comment Share on other sites More sharing options...
Crimson Wife Posted July 22, 2012 Share Posted July 22, 2012 $200,000 is considered where wealthy starts?! I would've thought someone would have to make at least $400,000 to be considered wealthy. But then, perhaps that's just because of the town I'm in. $200k is where certain politicians like to place the "wealthy" stigma. The much-scapegoated 1% starts at $383k nationwide in the U.S. according to the New York Times. In my metro area, $200k only puts a family in the top 10%, and even $400k is top 3%. To get to the top 1% in my area would require an income of $600k. Quote Link to comment Share on other sites More sharing options...
stripe Posted July 22, 2012 Share Posted July 22, 2012 (edited) $200,000 is considered where wealthy starts?! I would've thought someone would have to make at least $400,000 to be considered wealthy. But then, perhaps that's just because of the town I'm in. I didn't say that's where wealth starts. But I think it's pretty interesting that only 4% of Americans (not the same as your neighbors or friends) make over $200,000, which does not seem to be sooooo much money. Yet, it is pretty rare after all. I looked up local doctors. They don't earn that much. Not even the very established specialist in a rare field whom one of my kids sees. About 93% of Americans earn less than $100,000 annually. The top 72 Americans (I mean individuals) earned over $6 billion. Edited July 22, 2012 by stripe Quote Link to comment Share on other sites More sharing options...
Crimson Wife Posted July 22, 2012 Share Posted July 22, 2012 About 93% of Americans earn less than $100,000 annually. True, but most families with an annual income of $200+k are dual-income. Where I live, a senior teacher married to a police officer or firefighter could easily have a combined family income of $200k. The New York Times last week had an interesting article on single moms, and it contained a quote that 40% of the increase in income inequality in the U.S. in recent years is due to the dramatic increase in childbearing among never-married women. Quote Link to comment Share on other sites More sharing options...
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