To the editor:
We’ve been hearing from the Harper government recently how well Canadians are doing because their net worth has gone up considerably.
However, does that number really mean that they are better off?
I don’t believe that and I’ll give my example. Some years ago I bought the condo I’m living at now. Within a year the value of the condo more than doubled. So my net worth went up considerably. But was I better off? The answer is no because my income was still the same as the year before.
And, most likely, this is what pushed up the net worth especially in the prairie provinces. And the reality is there are many whose net worth might be quite high, but they are having difficulty in making ends meet.
The more meaningful number would be the net income compared to the cost of living.