Vancouver is Canada's wealthiest city: study
 

Vancouver is Canada’s wealthiest city, according to a recent study released by Pitney Bowes Business Insight.

The average net worth of households in the Greater Vancouver area in 2007 is $592,851 — beating out second place Toronto’s $562,173 by more than $30,000.

Calgary is in third place with an average household wealth tally of $560,332, while Victoria, the only other B.C. city on the list, is fourth with $544,542.

“The relatively higher value of housing in Vancouver is responsible for driving the 2007 results,” said the report, which tracked household wealth in 16 Canadian metropolitan areas.

The start of the economic downturn last year, however, has driven house prices down in 2008.

In Vancouver, the average value of homes dropped by 11 per cent, while Toronto saw a decline of 8.5 per cent.

Analysts also applied 2008 trend data to see which Canadian city has been hardest hit by the dramatic declines in the stock market.

Calgary topped the list because it has the highest rate of households — about 14.4 per cent — owning stocks and/or mutual funds, it said.

In comparison, families in least-hit Quebec City own only 5.5 per cent in equity investments.
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hongers and mainland immigrants

cool and kinda sad

interesting

+1

Did you read it was mostly real estate wealth. If you took housing out of it, Vancouver is below Toronto (and probably other cities) in wealth.

Real estate wealth was created by a massive bubble, that's correcting. Expect to see Toronto ontop next year.

may be the wealthiest but also one of the most expensive cities to live in too

werd

hence why im so fucking poor right now

fuck

im not surprised about this at all.

Thanks to my co-ownership of my property, I lowered the city's average by 0.23%

nah you're just poor cuz u spend all your money on ps3 games :) them shits cost more then a pretty penny especially if u guys buy retail. The only retail game i've bought is sf4 cuz I had to have it. Everything else is from craigslist or rs for $40 or under :thumbsup:

move to chilliwack homie. pretty cheap out here

and work in downtown? haha as if my gas bill isnt enough per month

:haha::haha:

chilliwack = chilly gone whacked

:D:D


i like it tho, nice and quiet. Time to get away from all the shootings

I choked on my bag of chips lol

Wealthiest, do they mean the highest population of douchebags?
Ok...I'll agree there..

QTF.

watch the dumbshit goverment raise prices on shit now justbecuz the study say we are all rich... then fuck up ppl even more

no shit

they gotta somehow spend the money they made from the poor Americans lol

:haha::haha::haha::thumbsup:

I hate rich hongers

http://i630.photobucket.com/albums/u...47464_5665.jpg

since the avg house in Vancouver is 900k, then the avg household is 300k in debt... since most of that 600k per household is the home equity.

That sort of extrapolation from the data would be an incorrect assumption.

wow.. hyprocrite much?

Stop that Honger pic. Stop.

Anyways, Vancouver should also be the most expensive city too. Jesus, our housing cost so much.

Thanks for the compliment Johnny, but I am afraid I do not have the hair of those in the picture.

i like how they calculate net housing wealth without counting in the mortgage and debts that those families/individuals carry with them