Why Is Household Debt So High in Canada?

This is, once again, apropos of nothing in particular. I just happened to come across it:

Household debt wasn’t the driver of the financial collapse in the United States, but it certainly played a role. And since the Great Recession, households have delevered considerably, from 100 percent to about 80 percent.

But in Canada, leverage went up during the recession and has kept going up ever since. They’re now above the highest point of the US housing bubble. Is this a problem?

THE TRUTH...

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THE TRUTH...

is the first thing despots go after. An unwavering commitment to it is probably what draws you to Mother Jones' journalism. And as we're seeing in the US and the world around, authoritarians seek to poison the discourse and the way we relate to each other because they can't stand people coming together around a shared sense of the truth—it's a huge threat to them.

Which is also a pretty great way to describe Mother Jones' mission: People coming together around the truth to hold power accountable.

And right now, we need to raise about $400,000 from our online readers over the next two months to hit our annual goal and make good on that mission. Read more about the information war we find ourselves in and how people-powered, independent reporting can and must rise to the challenge—and please support our team's truth-telling journalism with a donation if you can right now.

payment methods

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