Canada MASSIVE DEBT Will Collapse the Economy as Canadians Can’t Pay Bills Without Credit!

The debt that Canadians have is much worse than in the US. It’s covered up because much of it is on their mortgages but nobody talks about how they have bought all of their possessions using the equity in their homes. Do you see this as a potential problem?

The debt problem in Canada only seems to get worse. In fact, Canadians have some of the worst debt in the world for a country of its economic size. It’s not going to end well because all of this debt is securitized and sold off to investors. The borrowers will default and quickly cause a chain reaction. Not good.

 

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Canadians warned to climb out of debt before it’s too late, as threat of cooling housing markets looms | Financial Post
business.financialpost.com/news/economy/dr-debt-warns-canadians-to-get-financial-houses-in-order
Canadians warned to climb out of debt before it’s too late, as threat of cooling housing markets looms | Financial Post
business.financialpost.com/news/economy/dr-debt-warns-canadians-to-get-financial-houses-in-order
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Greater Toronto home sales down 35% from February 2017, board says | CBC News
www.cbc.ca/news/canada/toronto/greater-toronto-home-sales-down-35-from-february-2017-board-says-1.4563773
More than 40% of Canadians feeling pinch of rising interest rates, up five percentage points | Financial Post
business.financialpost.com/personal-finance/rising-interest-rates-starting-to-pinch-more-canadians-poll-says
Canadian households ‘nowhere near prepared’ for higher rates, survey finds – Article – BNN
www.bnn.ca/canadian-households-nowhere-near-prepared-for-higher-rates-survey-finds-1.892780#_gus&_gucid=&_gup=twitter&_gsc=eFVtpMm
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Bank of Canada: Half of Canadian Real Estate Mortgages Will Renew By Next Year | Better Dwelling
betterdwelling.com/bank-of-canada-half-of-canadian-real-estate-mortgages-will-renew-by-next-year/
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Focus: Household Borrowing in Canada | Focus: Household Borrowing in Canada
cba.ca/household-borrowing-in-canada

 

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