Sep
15
Canada’s Household Debt Burden Is Now Bigger Than Its GDP
By-
Borrowing continues even as government tightens mortgage rules
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Debt-service, debt-to-net-worth ratios remain little changed
Canadian household debt exceeded the country’s gross domestic product for the first time as liabilities climbed to a fresh record relative to disposable income.
Household debt rose to 100.5 percent of gross domestic product in the second quarter from 98.7 percent previously, Statistics Canada said Thursday from Ottawa. Credit-market debt such as mortgages increased to 167.6 percent of after-tax income, from 165.2 percent in the first quarter…
Canada’s Household Debt Burden Is Now Bigger Than Its GDP
