The assets-to-debts ratio for Canadians has worsened over the past couple years. Much of this is because mortgage debt kept growing even as financial assets took a hit.
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Canadian personal debt characteristics
Jim Rogers: My first million
How expensive is real estate in your Canadian city?
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Here’s what TD Economics has to say about the accumulation of greater housing-related debt:
…debt is being used to fund wealth accumulation through investment in real estate, which is traditionally viewed as more financially desirable than the accumulation of debt for purely consumption purposes. That being said, homeowner’s equity has declined to a 7 year low by the end of 2009 despite improving real estate values.
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