2010-2021 Canadian renters' net worth growth lags homeowners', exacerbating wealth inequality.
RBC economist Carrie Freestone's report highlights the challenges faced by Canadian renters in accumulating wealth, as they dedicate a larger share of their income to housing costs. Since 2010, homeowners' net worth has grown from nine to 13 times household disposable income, while renters' net wealth rose from three to 3.5 times. The increasing costs of housing for renters make it harder for them to save for a down payment, which could exacerbate wealth inequality.
March 14, 2024
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