So as the dwarves in Snow White say “It’s off to work I go”. Below is a great article from The Vancouver Sun, talking about our ever increasing debt load. In fact, that is the number one reason that the finance department reacted with changes to mortgage financing yesterday. As always feel free to contact me if you have any questions.
Our debt-to-income ratio hits an all-time high
Although the recession may technically be over in Canada, many households sank even further into debt in 2009, creating the highest debt-to-income ratio ever in Canada, according to the Vanier Institute’s annual assessment report, released Tuesday.