Canadian debt infographic


You guys owe a LOT of money.

Canadian Mortgages Inc has put together an interesting infographic that shows you at-a-glance the debt loads that Canadians are carrying.

Some highlights:

-Debt ratio is 163%, about what the US was at their peak
-In Total Ontario owes the most, followed by Quebec and then BC.
-Per capita debt is rising everywhere except Alberta


Read the original post here to view the full infographic.

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Bryan Jaskolka

It’s not misleading if you take the time to look at the entire infographic. Our household debt levels are at 164%. That’s a fact, and one that hasn’t been disputed by the federal government, experts and analysts in the country. What is at the heart of the debate really is whether we’re as bad off as that statement seems to say – such as the fact that this is where US levels were before they went kaput. What you have to take into consideration are all the other factors, such as our vastly different housing market and lending practices. But the 164%? That’s stated fact, and I don’t understand how it’s confusing, since now it’s actually above those levels, which would make it rounding down to 164%.

Good to be out

@49 Chaddywack “Most of the public doesn’t follow RE as closely as we do. In a way it’s a bit of a moral duty… much as I like seeing flippers get slaughtered, I don’t like seeing the young naive couple/family get hosed.” I agree. Perhaps start out small, such as with public awareness posters on phone poles and handed out at strategic points around the city, like in front of Urban Fare in Yaletown, or in front of condo presale offices, with message in big red print that reads “Vancouver Real Estate Prices are Crashing”, and in smaller lettering “don’t believe it – just Google “Vancouver housing bubble” and see for yourself”. I figure 50-100,000 copies posted/handed out around the city could cause quite a stir. Ten people donating $100 each would cover the photocopying costs. Not likely Global would… Read more »


I hate to admit it, but I agree with A1 and VDTF. The reason those Richmond average and median declines are so big is because the top of the market (1M+) has completely falled off a cliff. So the lower average and median numbers are likely a reflection of the lower-priced sales mix than an indication of large price drops on individual properties. But that fact still doesn’t bode well for the overall market. I have a friend who’s thinking of buying in North or West Van. He’s a successful lawyer in his prime earning years. But he told be flat out he can’t buy a house for more than 1M with the new rules because he doesn’t have 200k for a down payment. And that’s going to be true for a hell of a lot of people in the… Read more »

Vote Down The Facts

Garth really should be upfront about the sample sizes for those areas he’s providing averages/medians.



Richmond’s Terra Nova area has not fallen by 38%.

Garth is a liar.


Someone needs to expose this HPI fraud to the MSM like how the story of the “sisters buying for their offshore Chinese parents” blew up in the face of the industry awhile ago.

Most of the public doesn’t follow RE as closely as we do. In a way it’s a bit of a moral duty… much as I like seeing flippers get slaughtered, I don’t like seeing the young naive couple/family get hosed.


Here is Garth’s summary:

In the Terra Nova hood the average sales price in the past year has declined 38%, while the median price has travelled from $1.388 million to $688,000. That’s a drop of 50.4%. In the Riverdale area, the average price is off 27.5% and the median lower by 28%. And over in Seafair, the average price is down 34% and the median by 25%.

These are numbers you’d expect crawling out of Vegas or Youngstown in 2006. But what has the real estate cartel announced to homebuyers and sellers? The Frankenumber for Terra Nova, where houses are now selling for half off, is a decline of just 4.6%. For Riverdale it’s -9% and for Seafair -15%.


The RE blogs are buzzing about the outing of the HPI as a fake number. It was on RE Talks, the Whisper and Garth. Here is what Garth said:

The Mouldy City is abuzz with ‘secret’ internal housing numbers from the Vancouver Real Estate Board which do two things: (a) give irrefutable proof the realtors’ frankenumber is misleading consumers and (b) show there’s a US-style HouseAgeddon in full flower in Richmond – that burb where Asian money was supposed to make everyone a millionaire. The leak started here and spread here and now it might as well be here.

Bull! Bull! Bull!

@bon jovi

what makes you say it’s a bubble? since you know it’s a bubble you must be able to answer these questions:

what’s the difference between costing and owning?

for how many years has the price been above trend?

how much have homes appreciated versus wages?

there seems to be a knee jerk reaction every time prices move. this how people get stuck making wrong calls since 2001

bon jovi

here we go again. blowing the bubbles.

Defying Gravity: Miami Condos Soar Again

“”You need to rush the market. You need to be first, so that when it craps out, and it will, you are able to take your chips off the table and you’re not the one left dealing with the bank,” said Zalewski.”


There is little doubt that HAMy areas are seeing the steepest declines. I would actually be shocked if their weren’t some foreigners who simply decide to stop making their payments.

I would do the exact same thing.

I prefer to have money rather than not. I assuming that this trait is universal among humanity.

cut and run

“It’s only when the tide goes out that you learn who’s been swimming naked.”

— Warren Buffett

believe me now or believe me later.

Vote Down The Facts

@cut and run:

“I’ve heard stories”

Well, that’s good enough for me.

Short'em High

@G #36 Says: Are retailers desperate?

This Thursday, March 21 5:30AM PST, Statscan will release the Core Retail Sales number and the markets will examine precisely this question. If the aggregate Canadian consumer is finally tapped out, the Canadian dollar will get crushed AGAIN, as it did on the tick of the last retail sales number.


“I think there are going to be A LOT of foreclosures……..”

Oh, for a moment there I thought you were going to throw out a bunch of stereotypes.


“The store clerk told me that the reason was Best Buy was holding back a lot of its inventory for Boxing Day sales and online sales.”

So, Best Buy holds back stock that they could sell for the regular price so they can sell it at a discount on Boxing day? I think your store clerk was ignorant, stupid (or both – after all, he could have taken the Realtor course)or perhaps he just found a gullible customer.

cut and run

I think there are going to be A LOT of foreclosures. The mainlanders who bought their residencies burrow money just like everyone else. Why gamble with 1.5 million when you can use that as down payments to borrow a hell of a lot more? They also used document mills to falsify their incomes and business. That’s how they got in to the country in the first place. Once they are underwater they will simply leave the country and there will be zero consequences to them. These people all have political connections, or are party members. That’s how they got rich in the first place. The party isn’t going to turn over one of their own for something as meaningless as debts in a western country. I’ve heard stories of them doing business here. Everything is fine and good, until they… Read more »


I’m 41 years old. Approximately 1.5 million in assets, 50k in liabilities.

I think I’m bucking the national trend. 😉


@Bon Jovi
Futureshop are selling Health and Beauty products.
London drugs are selling computers
Canadian tires are selling detergents
NCIX computer are selling rice cookers.

Are retailers desperate?

Or perhaps it’s the consumers who are desperate?


I do have to agree somewhat with 31.

Rates don’t matter until they do and we know at some point they will be going up.

Rates are so low right now that at 2.89% for a 5 yr fixed its $468 per $100K borrowed. That is free money.

So Joe lunch bucket with a family income of $85K pre-tax following the rule of no more that 45% of pre-tax income going to a mortgage could “afford” to borrow $685K + any DP he could scrounge up. We all know that the banks will gladly approve him for a lot more than that.

As long as people focus on their “payments” vs the value received we may see this market in a slow decline vs a fast one.


@Vote Down the Facts “tiny margins on electronics and that physical retail is getting hammered by online?” I think it’s too easy to blame the woes of Best Buy/Future Shop on the rise of online shopping. I actually don’t like to shop online and last Christmas I walked into a Best Buy to buy a laptop for someone for Christmas. I went to two different Best Buy locations the week before Christmas and was shocked to find out that they had hardly any inventory in the stores. Every laptop I was interested in buying was not in the store. Every laptop (I went through about 10 laptops that I was willing to buy) was not in the story and the only way to get it was to order online, but it wouldn’t be shipped to the store until AFTER Christmas!… Read more »


New Listings 256
Price Changes 105
Sold Listings 135


Many Franks:

Agree that Flaherty is trapped…that’s when the Corporate sharks start to circle. The sharks will pressure for policy changes that favour them, or else its Flahertys head!


debt to income ratio is irrelevant in interest rates stay ay record lows.

Only a problem if rates rise.

lets see how many thumbs down this gets from the armchair economists.


: All banks are created equal, some are just more equal than others.