Samantha Grossman:

Over the past five years, the average net worth of Canadian households has exceeded that of American households. So for the the first time in history, Canadians are wealthier than Americans — by more than $40,000, on average. In 2011, the average net worth of a Canadian household was $363,202, compared to $319,970 in the U.S., according to Environics Analytics WealthScapes data published in the Globe and Mail. (‘Average net worth’ measures the total combined value of a household’s liquid and real estate assets, minus debt.)

The collapse of the American housing market in 2008 is one of the major factors, according to the report.