The Bank of Canada says that since the liquidity crisis of 2008-2009, household debt has increased at a rate that is twice the rate of the increase in disposable income.
There is nothing wrong with the Canadian banking system......it is Canadian household debt that is the problem......When mortgages are added to the debt picture the average Canadian household debt is $176,461 for an average household with two children. Compare this with the average family debt of $56,800 in 1990. Stats are from a CGA study....
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