Wednesday, December 14, 2011
Household debt, including mortgages, is now worse in Canada than the USA and UK, according to the Bank of Canada. Adding: Household net worth fell by 2.1 percent in the third quarter, its second straight quarterly decline. Canadians held more assets in the form of real estate but the value of their stocks and pensions fell. The ratio of household credit-market debt, which includes mortgages, consumer credit and loans, to disposable income rose to 150.8 percent from 148.5 percent in the second quarter.