M city 5 condos prices. The average Canadian household has assets of more than 1 million. At the beginning of the epidemic last year, many economists asserted that this would be the biggest economic blow to Canada in recent decades.Please Visit: M city 5 condos prices to Get Your VVIP Registration Today!
Indeed, the epidemic has had a great impact on the global economy. At the beginning of the epidemic, almost all of Canada’s social functions were nearly shut down under the influence of the city closure. Shops are closed, employees are unemployed, supplies are in short supply, the government spends money wantonly, and the epidemic is endless. The argument of “taking jujube pills” in Canada rises one after another.
However, now that the haze of the epidemic is almost over, looking back at Canada’s economic growth since the epidemic, economists have found a reality that has been severely slapped in the face: not only did Canada not enter the Great Recession, but even, many people have made a lot of money.
According to the Canadian Financial Post, BMO Chief Economist Douglas Porter pointed out in a research report, “although the epidemic is tragic and terrible, it has had an amazing impact on the wealth creation of Canadians.” Many Canadians not only saw their house prices hit record highs, but they also saw a surge in non-residential assets during the worst health and financial crisis. ”
Data released by the Federal Bureau of Statistics show that Canadian household net worth soared in early 2021, driven by soaring real estate values, and all assets held by households across the country rose by 6% in the first quarter of this year after deducting liabilities.
The new BMO Capital Markets report shows that during the pandemic (since the beginning of 2020), the net worth of Canadian households has increased by a staggering 2 trillion yuan. Douglas Porter, chief economist of BMO, wrote: “this represents a huge growth of 17%, to 13.7 trillion yuan, equivalent to 933% of disposable income-50% higher than in 2019 and twice what it was 30 years ago.” “there has also been a significant increase in household wealth in the US against a difficult economic backdrop over the past year, but Canada’s growth to wealth-to-income ratio is even more striking.” Even after taking into account debt, the average total assets of Canadian households have now exceeded 1 million yuan.