Canadian-Born Wealth Falls Behind Immigrants After Real Estate Bubble

Being Canadian-born isn’t the wealth advantage many assume, according to a new study. Statistics Canada (StatCan) researchers compared Canadian-born households with established immigrants who had lived in the country for at least 10 years. They found the immigrant group came out ahead across every wealth quartile, though the gap narrowed at the top. The difference was driven almost entirely by Canada’s real estate bubble in its largest cities. Canadian Wealth Disparity Is Non-Existent Among The Rich Canadian-born and established immigrant wealth wasn’t very different. Canadian-born households aged 35-64 years old in the fourth quartile of wealth—the top 25% of households—had an average net-worth of $2,908,900. They found a ratio of 1.0, meaning there’s no statistically significant gap (-$4,600) for the upper quartile of established immigrants, those who arrived at least 10 years before the survey period. The ratio drops for the third quartile of wealth to 0.94, but is still considered statistically insignificant: Canadian-born at $916,200 vs established immigrants at $973,900. Canada’s Real Estate Bubble Closed The Gap For Rich Immigrants Canadian household wealth: Average for Cana...