Canadians Are Drunk On Debt

2021 home sales volume was 20% higher than any other year. Along with all these home purchases comes debt in the form of mortgages. A quarter trillion of new mortgages in 2021 to be exact. Household debt in Canada is now at 180% of disposable income, a new all time high. Whats more, with rates rising, the majority of new mortgages have been variable to the tune of 55%, up from just 8% two short years ago. The amount of mortgages issued to peo...