个人财务状况也不妙了.
- 主题发起人 贵圈
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贵圈
政府都对党
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Canadian Households’ Ratio of Debt-to-Income Rise at A Record Rate
In the fourth quarter of 2020, Statistics Canada found a 174% ratio of debt-to-income. This debt ratio has maintained this high since. The second quarter of 2021 saw the ratio at 173%. An 8.61% increase from the second quarter of 2020. Each quarter compared to show the largest annual increase in the debt ratio since the 90s.What is the debt-to-income ratio?
The debt-to-income ratio is the amount of debt Canadians have for every dollar they earn. When this amount is over 100%, it means you owe more than you earn. However, this is a dangerous financial position. It means you are over-leveraged. You are more susceptible to economic waves this way, such as increased inflation. The debt-to-income ratio is also commonly called debt service.At the beginning of the COVID-19 pandemic, the ratio had a brief decline. Reaching as low as 159.36% in the second quarter of 2020. This dip was largely driven by lockdowns and restrictions. Canadians simply could not spend their money in the same way. This combined with government financial support, like CERB, allowed Canadians to navigate the early days of the pandemic. They had more money and supports with less ability to spend. Debt ratios could continue to climb as government supports decreases. We are also reentering pre-pandemic levels of employment. Overall, the debt-to-income ratio is shockingly high in Canada.
