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Record high household debt in Canada triggers alarm


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http://www.theglobeandmail.com/globe-investor/personal-finance/household-finances/record-high-household-debt-in-canada-triggers-alarm/article2269210/

 

Canadians have set a new record for household debt, a sign that many families are leaving themselves vulnerable to an economic shock.

 

The debt burden of Canadian households has surpassed levels of both the United States and the United Kingdom and, by at least one measure, they are hurtling toward those countries’ peak levels of 2007, new Statistics Canada data show.

 

 

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Record high household debt in Canada triggers alarm

TAVIA GRANT

From Wednesday's Globe and Mail

Published Tuesday, Dec. 13, 2011 8:45AM EST

Last updated Tuesday, Dec. 13, 2011 7:44PM EST

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Canadians have set a new record for household debt, a sign that many families are leaving themselves vulnerable to an economic shock.

 

The debt burden of Canadian households has surpassed levels of both the United States and the United Kingdom and, by at least one measure, they are hurtling toward those countries’ peak levels of 2007, new Statistics Canada data show.

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