Why is Median Canadian Net worth about Double that in the US?

net, reports, reading, household, 2010

I was reading a bunch of news reports about the median net worth of people in Canada and the US. A recent CNN report said that the US lost about 23% of wealth, so their median net worth went from $125,000, before the Economic Crisis, to about 95,000 now (sure a far cry from the million dollar portfolios we see in the CFA case studies huh)

Then, the Globe and Mail had a report saying that the Median household net worth was about $181,000 or so. Up from about $170,000 from 2010 which was still recovering from the financial crisis.

So, if that is correct, the Median Canadian household is twice as wealthy as his US counterpart, considering that the US dollar is actually at a discout vis a vis the Canadian dollar, the Canadian guy is sitting pretty while his US neighbour is shaking his fist and probably sending letters to congress to invade north.

However, I believe that this is due to 2 factors

1/ The US has had a massive housing correction, Canada has not YET

2/ A large part of Net worth in Canada is due to overinflated housing prices. More specifically, a good chunk of that extra net worth is due to a grossly overinflated housing market in Vancouver which has been bloated with Asian money.

I would be open to hear theories about this. Feel free to add your input and thoughts.

P