Gap Between Canada’s Rich and Poor Is Widening at Record Pace

Inflation, higher interest rates and declining real estate values are worsening wealth inequality in Canada, with younger households bearing the brunt of the financial pain.

The richest 20% of households controlled 67.8% of net worth in the country in the first quarter, while the bottom groups accounted for 2.7%, Statistics Canada reported Tuesday in Ottawa.

That difference of 65.1 percentage points was 1.1 points higher than the same period a year earlier. It’s the fastest increase in records dating back to 2010, although the wealth gap is still slightly narrower than in 2020.

The widening wealth gap is a challenge ...