How is the debt to income ratio calculated exactly for these studies saying Canadians have a debt to income ratio of 150%??? How I understand it is that you take your monthly debt divide it by your monthly income and that's pretty much it. But with a 150% debt/income, that means that Canadians aren't bringing in enough money to cover their debt payments, that can't be true. Don't you need a debt/income ratio less than 40% to even qualify for a mortgage???
Here's the latest story:
http://ca.finance.yahoo.com/news/can...142238525.html