Canadians have 18 cents of debt for every dollar of net worth by end of Q2: Knowledge Driven Revolution

Rising residential real estate costs contributed heavily to a 1.7 per cent growth in national wealth during the second quarter, accounting for about two thirds of the increase.

Offset by increased net foreign debt, however, growth in national net worth slowed to 1.2 per cent, down from an average of 1.6 per cent through the previous four quarters.

Statistics Canada reports that national net worth reached $4.7 trillion by the end of the second quarter, or $142,900 per person.

But gains in household net worth stalled as they recorded the lowest growth rate in seven quarters.

Most notably, the stock market correction was reflected in reduced values of corporate shares and mutual funds, as well as limited gains in the value of pension assets.

With the continued rise in household debt, and the modest increase in net worth, households had 18 cents of debt for every dollar of net worth at quarter's end, up slightly from the first quarter.

Debt service charges represent about eight per cent of personal disposable income.

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