Canadian Household Debt at Record Highs, Pose Risks for Future Generations
- Canada has the highest household debt-to-income ratio of any G7 country at over 180%
- In 1980 the household debt-to-income ratio was just 66%
- High debt levels attributed to home ownership, described as a "double-edged sword"
- Middle and low income Canadians spending more than saving through 2023
- Canadians over 55 hold 65% of total wealth, posing risks for future intergenerational mobility
