Tag Archives: household debt

Debt Trap!

The day of reckoning for over indebted Canadians does not appear to be coming soon, but a new survey indicates a rising proportion of Canadians fear the fallout from higher interest rates. Thirty-three per cent of respondents to a survey conducted on behalf of MNP said they could be pushed toward bankruptcy due to rising […]

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Global Gluttony Continues

Taking on debt in basic terms simply means stealing from our future income in order to purchase or consume something today. If we do enough of it what will be left of our future income in order to purchase or consume in the future?  Is there not an inevitable wall that will be hit?  Will […]

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Uuuum…Alberta We Have a Problem….

According to a recent by RBC report focusing on Canada’s Household Debt Albertans would be hardest hit by further interest rate hikes.   Mortgage debt in Alberta rose almost 30 per cent on average from 2010 to 2016. Households in Alberta will feel the most pressure from rising interest rates because residents in the province carry […]

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Time almost up at the all-you-can-eat buffet?

Canada’s current debt binge has some sounding the alarm on rate hikes. According to Macquarie Capital the unprecedented rise in consumer debt means the Bank of Canada’s (BoC) rate-hiking cycle is already the most severe in 20 years and further increases will have far graver consequences than conventional analysis shows. Assuming just one further rate […]

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Worry = Higher Interest Rates + Covering Monthly Bills

According to a recent Ipsos poll conducted by MNP LTD., Canadians are increasingly worried about their ability to repay their debts. Since interest rates first rose in July, households across the country have noticed their budgets tightening as they struggle to keep up with expenses and manage other rising costs. Jumping eight percent since September, […]

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Thinking wisely and acting foolishly

A new CIBC survey shows a quarter of Canadians say paying down debt is their top personal finance priority for 2018 as has been for the previous seven years. And we know how well that’s been working out for households in this country. So is there any reason to believe next year will be different? […]

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We’re on the Hook for the Lack of Prudence of Others!

As Canadian household debt hit an all-time high in 2017  a new study by TD Bank finds that 97% of Canadian homebuyers say they wish they’d factored in their other financial obligations when determining the mortgage they could afford. (Too bad their mortgage broker/architect/advisor was not required to factor these ‘obligations’ into their loan approval consideration either.) We […]

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Canadian Consumers Rightfully Showing Concern Over Rising Interest Rates

According to a recent Ipsos poll conducted by MNP LTD., the increased cost of borrowing due to rising interest rates is causing many Canadians to re-evaluate their relationship with debt. Seven in 10 people who responded to the survey say higher interest rates will cause them to think twice about how they spend their money, […]

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I want to do right, just not right now

A new poll from CIBC finds that paying down debt is once again the top financial priority for Canadians in 2017, the seventh straight year that debt concerns have headlined the annual survey. Coming in at nearly 30 per cent, prioritizing debt repayment is at its highest level since 2010. According to the latest data […]

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Y U No Listen?!

As MacLean’s Jason Kirby points out, the Bank of Canada, in a clear sign of desperation, has taken to YouTube to warn Canadians about the dangers of too much debt and unrealistic house price expectations. He wonders, however, whether anyone will listen considering on growing housing bubbles in some regions and household debt ratios continuing […]

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