October 16, 2012
Canada in for U.S.-style Housing Bust?
Barrie McKenna, Globe and Mail
Canadians have entered the debt danger zone that helped trigger real estate crashes in the U.S. and Britain. The average household now has just 63 cents of disposable income for every dollar of debt, according to figures released Monday by Statistics Canada. That’s the highest ratio of debt to income ever recorded in Canada, and more inflated than the levels witnessed in the U.S. and Britain before their housing market collapses in the mid-2000s.
TAGGED: Housing, United States, Canada