Posthaste: Why Canadians' cash cushion might not be as massive as we think
Oxford says most measures don’t consider that households were under-saving in the years leading up to the pandemic and fail to adjust for the amount already spent paying down debt, on international travel or investing in assets such as housing, stocks, bonds and crypto.by 27 per cent and were $10 billion higher than the long-term trend would suggest, said Davenport.In 2020, the top two income groups in Canada held 58 per cent of the excess savings and the bottom two about 27 per cent.
To get a better idea of how much money is available to spend, they charted the progression of checkable and at notice deposits. As their chart below shows these deposits are only 7 per cent higher than before the pandemic when inflation and population growth is taken into account.
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