Friday, September 16, 2016

An Appetite For Debt Becoming More Popular Elsewhere In The World, Too

Canada's household debt is now bigger than its GDP, for the first time

OTTAWA - The appetite of Canadians for debt continues to grow to record levels. The ratio of household credit market debt to disposable income climbed to 167.6 per cent between April and June, compared with 165.2 per cent in the first quarter, Statistics Canada said Thursday. That means that households now owe about $1.68 in credit…