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Canada Household Debt Approaches US Bubble Levels; Inane Housing Comments From Canadian Economist

by Mike Shedlock
MISH’S Global Economic Trend Analysis

Shortly after the peak in the US housing bubble, Americans’ household debt-to-income ratio reached 170 per cent.

For comparison purposes, Canadian household debt-to-income is now at 163 per cent, according to Statistics Canada.

Canadians’ debt-to-income ratio has soared to 163 per cent, much higher than previously believed, according to revised Statistics Canada figures.

The household debt level has increased 1.8 per cent in the second quarter, bringing it to a similar level seen in the United States before the housing bust and the 2008 financial crisis.

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