Household debt is growing says StatsCan

by |
A report from Statistics Canada shows that more Canadians are in debt and the amount they owe is higher. Comparing figures from 1999 with those from 2012 the agency found that the median family’s debt grew from 78 per cent of income to 110 per cent. In 1999 the proportion of families that owed more than twice their annual after-tax income was 23 per cent but by 2012 it was up to 35 per cent. 
  • NMH on 2015-04-30 7:57:57 AM

    SO WHAT! If it was really that big a concern perhaps the Federal Government would reign in the banks from handing out highly profitable lines of credit and credit cards like candy to children and stop the economic enslavement of all Canadians ! With current mortgage rules and lax retail lending guidelines the banks are able to enslave all but the wealthy as we all aspire to the increasingly remote middle class dream that keeps the Canadian economy going.

  • Anthony P on 2015-04-30 9:14:32 AM

    NMH get a grip

    The rich rules over the poor and the borrower is slave to the lender

    Blame the Canadians who want to have it now instead of having it later or not at all

Broker news forum is the place for positive industry interaction and welcomes your professional and informed opinion.

Name (required)
Comment (required)
By submitting, I agree to the Terms & Conditions