With the average Canadian owing an average of $22,000 (without mortgage), the debt levels continue to hit record highs in our country.
Posted: 03.15.2017
With the average Canadian owing an average of $22,000 (without mortgage), the debt levels continue to hit record highs in our country. However, Canadians’ net worth continues to rise as the value of assets increase.
For every dollar of disposable income, the average Canadian will owe almost $1.67 in debt. The debt-to-income ratio (how much we owe, in comparison to how much we earn), has crept up to 167.3% -- a new high -- in the last quarter of 2016.
By the end of 2016, Canadian households owed $2,028.7 trillion, with that number rising by $30 billion in the last three months of the 2016 year.
Read more at:
http://www.cbc.ca/news/business/statistics-canada-debt-1.4025646?cmp=rss
For every dollar of disposable income, the average Canadian will owe almost $1.67 in debt. The debt-to-income ratio (how much we owe, in comparison to how much we earn), has crept up to 167.3% -- a new high -- in the last quarter of 2016.
By the end of 2016, Canadian households owed $2,028.7 trillion, with that number rising by $30 billion in the last three months of the 2016 year.
Read more at:
http://www.cbc.ca/news/business/statistics-canada-debt-1.4025646?cmp=rss
