Billionaires and skyrocketing housing costs big drivers of wealth inequality

People living in highly unequal societies experience a broad range of health and social problems which affect everyone, no matter how much money they have. That’s why we should be paying attention to the latest Statistics Canada data on rising economic inequality in Canada. The latest numbers on household finances show a near-record gap in the share of disposable income held by the top 40% of Canadian households compared to the bottom 40%. The wealth gap is even larger than the income gap. Yet even these shocking statistics don’t tell the whole story about wealth inequality in Canada. Alex Hemingway is senior economist and public finance policy analyst with BC Policy Solutions. He joins me today to talk about two facets of wealth inequality: billionaires and housing.