Quote:
Originally Posted by 2Stonedbirds
If that net worth includes the value of their home at any given snapshot in time, I'm not sure that makes it better or worse.
|
It would include the equity they have. And someone with over $300K in equity is obviously not $200 away from insolvency.
And even ignoring that, the stat is clearly ridiculous. There are about 100K bankruptcies/consumer proposals in Canada in most years, which represents about 0.3% of the adult population. If 50% of the population was truly $200 from insolvency, then you would expect more than 1 in 330 adults to end up there.