Statistics Canada says household debt ratio up in second quarter

The agency says household credit market debt as a proportion of household disposable income rose to 181.7 per cent on a seasonally adjusted basis in the second quarter, up from 179.7 per cent in the first quarter.In other words, there was about $1.82 in credit market debt for every dollar of household disposable income in the second quarter.

The increase came as households' disposable income increased 1.0 per cent, but household credit market debt rose 2.1 per cent. Statistics Canada says, on a seasonally adjusted basis, households added $56.3 billion of debt in the second quarter including $48.7 billion in mortgages. The household debt service ratio, measured as total obligated payments of principal and interest on credit market debt as a proportion of household disposable income, was 13.63 per cent in the second quarter compared with 13.34 per cent in the first quarter.

Of course this will be Trudeau's fault as if he controls what people buy or spend money on. If people choose to buy expensive non-essential goods, that is their responsibility, and no one else. As for food, talk to Weston (Sobey's) ,and Patteson (Save-on). This not the gov't.

I'm seeing the recession but the escorts aren't lowering their prices. Might have to head to Argentina and $20 gives me the VIP treatment

Tic tic tic tic.... 💥

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Statistics Canada says household debt ratio up in second quarterStatistics Canada says the amount Canadians owe relative to their income moved higher in the second quarter as the level of debt grew faster than their earnings. But JT said he borrowed money, that we don't need to This is the “Terrible 20s” This is what happens when you jack up interest rates significantly in a short period of time. Bankruptcies are sure to follow. It’s not unintended.
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