Canada's skyrocketing household debt
Household debts in Canada have sky-rocketed, but there's more to that story. The CBC's James Fitz-Morris examines debt-to-income levels for the average Canadian family.
Today, the debt-to-income ratio is 165 per cent. But that's not the whole story.
Household debts in Canada have sky-rocketed.
In 1990, families had debts equal to 89 per cent of their annual disposable income. Today, it's 165 per cent.
- Debt-to-income ratio ticks up to 164.6%, StatsCan reports
- Canadian households are racking up more debt, poll suggests
- Household debt is under control in Canada, Fraser Institute says
While troubling, that's not the whole story. Watch the CBC's James Fitz-Morris explain why.