About Me

My photo
GTA, Ontario, Canada
A New Sales Record Has Been Achieved By The Jackie Goodlet Team Who Work Out Of The Whitby Office And Specializes In High End Resale And New Home Sales. According To Broker Dave Pearce The Jackie Goodlet Team Wrote More Transactions Than Anyone Else In The 30 Year History Of Our Firm. Their 255 Transactions Had A Total Volume Of More Than $185,000,000 (185 Million). With Over 25 Years Experience In The Business The Jackie Goodlet Team Has Acquired A Wealth Of Knowledge In All Areas Of Real Estate Including Resale, New Builds, Cottages, Lease, Condos, Vacant Land, Investment And Commercial Properties. With Exceptional Negotiating Skills We Are Confident We Can Save You Time And Money On All Your Real Estate Endeavours. We Look Forward To Hearing From You And Your Referrals Are Always Welcome And Rewarded!

Monday, September 25, 2017

Canadian household debt is “outlandish” says Madani

Household debt in Canada is “outlandish when compared to the rest of the G7” according to David Madani.

Capital Economics’ senior Canada economist, who has often sounded warnings about Canada’s housing market, released a report Friday in which he welcomed the OECD growth forecast of 3.2% for 2017.

However, Madani said that the debt-to-income ratio is 175% is “staggering” and far outpaces other G7 nations including the UK which is second for debt-to-income ratio at 149.5%.

He also warns that home equity lines of credit have risen sharply (up $13 billion in the 12 months to June 2017) and that house values remain “bubbly.”

The economist concludes that increased growth fuelled by credit risks building up household debt which could be a “natural disaster.”

MBN

We hope you are finding our Blog informative and enjoyable to read while keeping you up to date with the ever changing real estate market.

Please feel free to contact me via Direct/Text or e-mail at any time and my team will be pleased to assist you, family members and friends with all your real estate needs. Referrals are always welcome!

Posted by at

No comments:

Post a Comment

Subscribe to: Post Comments (Atom)