National net worth rises amidst declining international investment position and housing prices
National net worth, the sum of national wealth and Canada's net foreign asset position, edged up 0.2% in the second quarter to $17,646.3 billion, expanding at the slowest pace since the first quarter of 2020 and ending the string of strong quarterly growth that saw Canada's national net worth climb by over $5.1 trillion since the end of 2019. By comparison, an increase of this magnitude took nearly a decade to materialize prior to 2020. Significant declines in both the value of real estate and Canada's international investment position were counteracted by the continued expansion of natural resources wealth. National net worth per capita was nearly unchanged from the first quarter of 2022, edging up to $455,401 in the second quarter.
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