Nerdy By Nature: Canada Dances with Financial Disaster

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Interests

That’s a lot of debt, eh.

Low rates motivate the middle class to borrow up to as much as 160% of their income. The average Canadian carries about $21,000 to 23,000 in non-Mortgage debt. Mortgage rates are sub-prime (below 2.7%) and houses keep getting built.

We’re still climbing out of the 2008 recession and rates have stayed at historic lows for — years.

We question the ceiling, as all good things must come to an end. Is Federal regulation enough to curve zealous credit usage, or will a housing bubble shift the entire country into a downward spiral?

https://soundcloud.com/gww-101643494/debt-load-canada-economy

By Elijah Drown

Elijah lives in Canada and spends his spare time hosting the Nerdy By Nature Podcast, grabbing new friends to join GWW, playing board games, cycling, or playing a Barb in a Dungeons and Dragons campaign. Sitting down is not his forte as keeping busy started with three kids (2 boys and a girl). He grew up along side the PC and spent countless hours playing multiplayer Quake with a 9600 baud modem (despite the lag). These days, Steam is his favourite place to play online, along with Forza Horizon on XBOX Live (when his oldest son lets him play).

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