Quote:
Originally Posted by bizaro86
That would make affodability even worse when you measured it by payments. If houses are more expensive per dollar of income, and interest rates are higher, it stands to reason mortgage payments are much, much higher per every dollar of income.
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If you look at debt in all forms for both countries total debt % of GDP Canada is 276 and Australia 277 both have very similar debt levels that need to be reigned in. This figure includes debt from households, non-financial corporations, financial institutions and governments.