- Joined
- Mar 24, 2009
- Messages
- 16,743
New take on household debt: Families have 'big cushion'
Amid all the fretting over swollen consumer debt comes a different angle from the deputy chief economist at BMO Nesbitt Burns.
Douglas Porter isn't suggesting Canadians load up even more with cheap money, but he does note today that along with household debt, net worth is also climbing.
Just by way of catching up, Canada's debt-to-income ratio is high, and, according to Toronto-Dominion Bank yesterday, set to rise even more to about 160 per cent, the point at which American and British families ran into trouble. As well, Canada's banking regulator is looking at new rules to ensure banks know everything they can about a borrower before approving a mortgage, The Globe and Mail's Tara Perkins and Grant Robertson report.
Read the full article here.
Amid all the fretting over swollen consumer debt comes a different angle from the deputy chief economist at BMO Nesbitt Burns.
Douglas Porter isn't suggesting Canadians load up even more with cheap money, but he does note today that along with household debt, net worth is also climbing.
Just by way of catching up, Canada's debt-to-income ratio is high, and, according to Toronto-Dominion Bank yesterday, set to rise even more to about 160 per cent, the point at which American and British families ran into trouble. As well, Canada's banking regulator is looking at new rules to ensure banks know everything they can about a borrower before approving a mortgage, The Globe and Mail's Tara Perkins and Grant Robertson report.
Read the full article here.