Tag Archives: household debt

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? […]

Posted in Debt, Economics | Also tagged | Leave a comment

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 […]

Posted in Debt | Also tagged | Leave a comment

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, […]

Posted in Debt, Psychology | Also tagged | Leave a comment

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 […]

Posted in Debt, Psychology | Also tagged , | Leave a comment

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 […]

Posted in Debt, Economics | Also tagged | Leave a comment

House of Cards

Back in September it was reported that for the first time ever, the level of debt held by Canadians has exceeded the country’s gross domestic product as the red ink spilled over in the second quarter to 100.5 per cent of GDP, up from 98.7 per cent during the previous three-months. At the same time, […]

Posted in Debt, Economics | Also tagged | Leave a comment

The Sordid Love Affair Continues

Canadian household debt soared to a record high in the second quarter, as rock bottom interest rates continued to encourage heavy borrowing. The ratio of debt to disposable income rose to 167.6 per cent in the three months to June, topping the first quarter’s 165.3 per cent and eclipsing last year’s record, according to Statistics […]

Posted in Debt | Tagged | Leave a comment

Delinquent and Angry

As widely reported last week in the mainstream media delinquency rates in Alberta and Saskatchewan climbed higher in the second quarter allegedly due to the fallout from the drop in the price of oil. Equifax Canada reported this past week that the delinquency rate for Alberta stood at 1.4 per cent, up 40.3 per cent […]

Posted in Debt, Economics | Also tagged | 1 Comment

Expanding household debt and expanding waist lines

One of the problems with expanding consumer debt that never seems to get mentioned is that it appears to accompany expanding waist lines in Canada. With what we’ve been able to dig up through some quick tertiary research is that although the relationship is not a perfect +1.0 correlation it’s pretty darn close. In a […]

Posted in Debt | Tagged | Leave a comment

Consumer Delinquencies Down (but don’t get too excited)

Credit monitoring agency TransUnion says Canadians appear to be getting better at handling consumer debt. Really? Is anyone that gullible? In a report just released this month TransUnion indicates that a shrinking percentage of debt payments are overdue by 90 days or more — even though the average balance owing continues to rise. There was […]

Posted in Debt | Also tagged , , | Leave a comment