Canadian Households Now Have $2.5 Trillion In Debt, Over 102% Of GDP

Author: External Author | Categories: Mortgage Agent , Mortgage Services

Canadian households are now so indebted, it exceeds the annual output of the economy. Statistics Canada (Stat Can) data shows the gross domestic product (GDP) printed modest quarterly growth in Q2 2021. The growth was dwarfed by household debt, which now exceeds the size of the country’s GDP. Economies with such large household debt loads are trading long-term growth for smaller short-term gains.

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Original Article Source Credits:   Better Dwelling ,

Article Written By:  Daniel Wong

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