Canadians Spend 65% More Income Servicing Debt Than Americans, Highest In G7

Author: Andre Ouimet - Mortgage Agent | | Categories: First Time Home Buyer Mortgage , Mortgage Agent

Canadian households devote much more of their paychecks than their American counterparts. Actually, this is more of a global thing. Canada’s household debt service ratio (DSR) is manageable, but far from normal. An addiction to cheap credit and expensive housing  has led to an epic borrowing spree. Households in the country now devote more of their income to paying off debt than any other country in the G7. Not by a little either — over 50% higher than any of its advanced economy peers.

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Original Article Source Credits:   Better Dwelling ,

Article Written By:  Stephen Punwasi

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