Wow we’re rolling in Canada all is fine. NOT!

[SASKFARMER3]

Canadians now owe $1.71 for every $1 of disposable income they earn — that's a new high.


The amount Canadians owe relative to their income hit another new high in the third quarter.

Statistics Canada says household credit market debt as a proportion of household disposable income increased to 171.1 per cent, up from 170.1 per cent in the second quarter.

That means there was $1.71 in credit market debt, which includes consumer credit and mortgage and non-mortgage loans, for every dollar of household disposable income.


The household debt service ratio, measured as total obligated payments of principal and interest as a proportion of household disposable income, was relatively flat at 13.9 per cent, while the interest-only debt service ratio was 6.3 per cent, down from 6.4 per cent in the previous quarter.

Meanwhile, the total net worth of the household sector edged down 0.1 per cent to $10.61 trillion in the third quarter.

Yep I believe the liberal government is moving in the right direction we’re all doing so great the above speaks for itself.

[checking]

Saskatchewan has the highest percent of debt free households in all of Canada.

Fully one quarter of Canadian households owe zero to anyone, or institution.

I take issues with articles such as the one you have stated.

Be honest, three quarters of Canadian households have debts well exceeding a $1.71 for every $1.00 earned. They are screwed for living beyond their means, and governments are equal offenders.

[sumdumguy]

Saskatchewan has the highest percent of debt free households in all of Canada.

Fully one quarter of Canadian households owe zero to anyone, or institution.

I take issues with articles such as the one you have stated.

Be honest, three quarters of Canadian households have debts well exceeding a $1.71 for every $1.00 earned. They are screwed for living beyond their means, and governments are equal offenders.

How does everyone, "deserve" a pocket full of credit cards?

[LEP]

I think it gives insight into why every year there is less and less worry about governments going into debt. If people in general are not willing to wait to earn the money for things they want to buy, why would they want their government to do so.

They think "I want everything and I want it now"

[SASKFARMER3]

Good comment LEP

[SASKFARMER3]

Checking you said you don’t like articles like this then explain why is it going higher each quarter if we’re doing better like Trudeau says.

[checking]

SF3

I don't like being included in a statistic that is used to lower a bigger reality, nor should 25% of above water Canadians.

The majority (population, or government) need to clean up their shit, not create a bigger shit storm that can only be made to look lower through inclusion of non offenders.

[SASKFARMER3]

I do agree but what this post is showing under our federal liberals debt is increasing at a outstanding pace. The economy isn’t gaining ground like the news pretends is happing. We’re going backwards and the only group left to tax is a inheritance tax and they would love that one. But first all the liberals have to love everything offshore so they are all right.

[macdon02]

Conservative or liberal govt is irrelevant to consumer debt. The trend on rates is up for the consumer and govt. The only factor missing from inflation is food cost as conveniently it's overweighted in CPI. Trudy didn't make people take another credit card or second mortgage unless you believe taxes are robbing the consumer of any wage gains ..... tax increases are consuming inflation and why money printing didn't produce the desired results. Brad didn't do any favors

[farmaholic]

Checking....I get what you're saying....using the 25% of households that are debt free artificially lowers the average of indebted households. I can't verify the 25% number.

On borrowing.....I think we all understand that we need to use time and interest bearing debt to buy some things.....you can't save enough to do it with cash....looooong term stuff. Sad part is people are even willing to borrow for the small stuff. Leveraging every available dollar of equity, bank lines of credit, credit cards..... when did the fear of not being able to pay it back disappear? And no shame in defaulting/bankruptcy....

Will there ever be another saving generation(that in essence has somewhat short changed themselves) thinking and worrying about "leaving" something after they've died for their children?

Laying gold bricks for successors to walk on? Easy come easy go.

[macdon02]

They are "entitled" to every last dollar of credit farma. And govt keeps telling people that. They are entitled to the rich, they are entitled to the corporations and they are entitled to govt subsidy from the cradle to the grave. A child check for 18 years and a pension from 65 till death. So if 78 is average life span that's 31 years. Work is for suckers or non govt employees. Private pensions are the next tax. Justin will "take" them to save them.

[errolanderson]

Bank of Canada boasts of Cdn economic strength rallying the loonie sharply late yesterday. Today, realism sets-in . . . . Release of negative decline in Canada's manufacturing in October revealed. Loonie slammed toward support of 77 1/2 U.S. once again.

Despite political drum-rolling, sharp drop in Canada's 4th quarter GDP is appears quite likely (IMO).

For what it's worth . . . .