Quote:
Originally Posted by MillerTime GFG
I think the BoC will have to tread carefully, given our debt levels are twice as high in Canada. We can't mirror the Feds.
Hoping we don't see 0.75 here too.
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It is going to get ugly next year. The debt level is around 185% debt to income and if a good portion of this is in line of credits with variable interest rates it is going to put many households into crisis mode very soon if it hasn't happened already. Some people might be able to adjust spending habits while others might be able to tap into more equity as a temporary measure but I suspect that a lot of people are nearing the breaking point.