I know my RRSP's are down waaaay more than this!
OTTAWA - Tumbling stock markets stripped a record 4.4 per cent, or $252 billion, from the net worth of Canadian households in the fourth quarter of 2008, Statistics Canada said Monday.
Per capita household worth fell from $179,300 in the second quarter of 2008 to $165,300 in the fourth quarter - a drop of $14,000, the federal agency said.
``The turmoil on equity markets significantly reduced the value of shareholdings as well as that of pension and life insurance assets of households,'' it said.
``The decline in households' assets was partially offset by the increase in non-financial assets, specifically residential structures.''
By comparison, Statistics Canada said household net worth in the United States fell nine per cent in the fourth quarter - the sixth consecutive quarterly decline.
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