That will have an across-the-board impact on Canadians who piled on mortgage debt during the pandemic to the tune of an average of $150 billion per year between 2020 and 2021, according to the Royal Bank note.
In the fourth quarter of 2021, that group spent 22 per cent of its after-tax funds servicing debt payments, including mortgage principle and interest payments.Article content “Lower income Canadians will also see their debt service ratio increase much faster through 2023 — at twice the speed of the highest income households,” Fan, Janzen and Powell wrote.
And low income is whom? I bet its a lot more than Liberal govt will admit!
Imagine that….
As always. Blame Trudeau and his blind policy incompetence
Everything bad always does hit them first and hardest
As always. We’re left to clean up the governments follies. This is nothing new. Wealth transfers only benefit one type of person, and it ain’t you or I
'will' - it already has!
And what do your Cons want to do to help? fk all... says it all
Also known as “essential workers”. Boy did we turn duplicitous. Please tell us about the banks record profits, largely from facilitating governments grants to businesses straggling to survive the pandemic lockdowns. And protesting this madness is hatful apparently.
No s***t Sherlock.
No shit.
Loans Loans Latest News, Loans Loans Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
RBC report says inflation and rising rates will hurt low income Canadians mostA report by RBC Economics says inflation and rising borrowing costs will affect all Canadian households, but low income Canadians will feel the sharpest sting. Inflation is already hurting low income people worldwide. According to Joyce Napier this has nothing to do with Trudeau's spending and flooding the money supply. Lol… really CTV? Great investigating 🤦🏼♀️
Source: CTVNews - 🏆 1. / 99 Read more »
Source: nationalpost - 🏆 10. / 80 Read more »
Source: VancouverSun - 🏆 49. / 61 Read more »