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    Mit 103 Prozent des BIP haben kanadische Haushalte die höchsten Schulden in der G7

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    1. commprecal on

      Mortgage debt makes up the majority of household debt, as the author notes. But then they start talking about homes as an appreciating asset as the offered justification for why its „okay“, and neglects the practical elements of canadas housing market: house age and home ownership rates.

      We have a lot of mortgage debt because houses are expensive, but we also have many more mortgages/capita because of a younger overall housing stock, younger population still paying mortgages, and high home ownership compared to G7 peers.

    2. UsefulUnderling on

      The more useful measure is interest payments as a share of income, and on that Canada look very bad. We have the worst of both worlds. High housing costs like Europe and high credit card debt like the USA.

      About 15 cents of every dollar Canadians earn goes not something they would enjoy having, but to interest payments on their debt.

      Every years banks make up a larger portion of our GDP. Sure they employ a lot of people, but society would be much better off if those people were working in areas that brought enjoyment to others.

    3. Mens-Real on

      Ya, young families have no choice but to take huge debt to access ownership and the gov doesn’t help them, just pileup measures that increase the demand even more

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