November 25, 2017

The Facts Behind Our Rising Debt Levels

We are continually being reminded that Canadians are overextended and in too much debt. So much so, the Ministry of Finance has made getting a mortgage more difficult and changed the rules to qualify for financing. What has recently been discovered is that while this may be true, we have generally borrowed wisely to build our net worth to record levels. Warnings about household debt often ignore assets and skew the picture. The $10.3-trillion in net worth of Canadian households is the result of debt accumulated to finance assets such as real estate and investments, according to a Fraser Institute…

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