Canada’s household debt ratio hits record as what we owe grows faster than our incomes

Canadian household debt climbed to a record relative to disposable income in the second quarter, underlying what the central bank has called a key vulnerability in the economy.  Credit-market debt such as mortgages rose to 164.6 per cent of after-tax income from 163 per cent in the prior three months, Statistics Canada said Friday in Ottawa. Credit-market debt rose 1.8 per cent in the second quarter, outstripping growth in disposable income of 0.8 per cent.

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Michael James

Michael James

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CENTURY 21 Explorer Realty Inc., Brokerage*
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