Household Indebtedness in Canada Climbing To New Heights

Why are Canadians acquiring so much debt and ignoring lessons from the USA’s sub prime debacle? Cheap, easy money is addictive! Besides, history would suggest that when housing prices fall and interest rates rise many people will have no problem using the victim card and blaming financial institutions, businesses, the one percent … everyone, but themselves. Still, there is hope to avoid the inevitable meltdown.

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Escaping The Debt Trap

There is good news and bad news about the household debt trap. The good news is, it is accepted generally by policy makers that Canadians are carrying too much debt. The bad news is Canadians aren’t heeding warnings. Also, we do not hear much about the need for Canadians to start lifestyle changes to lower debt. Here are a few suggestions.

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