08:08 AM EST, 12/17/2025 (MT Newswires) -- The latest release of the Canadian National Balance sheets revealed a surge of $461 billion in household net worth to $18.4 trillion in Q3, marking the largest increase since Q1 2024, and now rising for eight straight quarters, said Rosenberg Research.

This was primarily driven by huge gains in financial assets, which jumped by 4.8% quarter over quarter to a record high of $11.7 trillion -- with a 6.5% quarter-over-quarter increase in equities alone -- and helped take the net-worth-to-disposable-income ratio back above 1000%, from 990% in Q2, noted Rosenberg Research.

Non-financial assets, which include real estate, dropped by 0.3% quarter over quarter to roughly $10 trillion, with its year-over-year trend slowing to 1.2% higher from a 2.2% gain last year, and 4.3% two years ago.

The difference between financial and non-financial assets has reached a "historic" $1.7 trillion, showcasing that household wealth is becoming increasingly concentrated in the equity market, as well as life insurance and pensions, stated Rosenberg. Canadians now have a 32% share of their household net worth in equities alone, an all-time high.

The household savings rate edged up slightly from 4.6% in Q2 to 4.7%, but this compares with 5.2% at the turn of the year and 5.9% a year ago. The overall drawdown in the savings rate, along with mounting household exposure to financial assets such as stocks, confirms the significant risks that the wealth effect can have on balance sheets should there be an equity market correction, added Rosenberg.