Canada's immigrants are all about real estate, and that means newcomers to the country are carrying more debt than their Canadian-born counterparts. But the upside is that immigrant families have also accumulated more wealth, according to data released by Statistics Canada on Tuesday. The agency's report, "The Wealth of Immigrant Families in Canada," found that "established" immigrants are slightly wealthier than Canadian-born households, with an average net worth of $1.06 million in 2016. But the study found immigrant families are far more reliant on real estate than other families for wealth gains. For established immigrant families, 69 per cent of wealth growth between 1999 and 2016 came from real estate.

Source: Huffington Post April 17, 2019 19:52 UTC