
Household net worth rises with gains in both non-financial and financial assets
Household sector net worth—the value of all assets minus all liabilities—rose $256.4 billion or 1.6% to reach $15,970.1 billion in the second quarter. The value of real estate continued its recovery from the sharp declines that began in the second quarter of 2022, while foreign equity markets outpaced domestic markets, as an 8.3% rise in the Standard and Poor's (S&P) 500 Index dwarfed a 0.3% uptick in the S&P/TSX Composite Index in the second quarter of 2023. The value of households' total financial assets grew 1.3% (+$121.2 billion) in the second quarter, while the value of total non-financial assets rose 1.9% (+$171.7 billion). On the other side of the ledger, financial liabilities, composed primarily of mortgage and non-mortgage debt, increased $36.6 billion from the first quarter.
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