Canadian Mortgage Debt Passes 80% Of GDP For The First Time

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Mortgage Renewal in Cambridge, ON

Canadians love mortgage debt, and most households consider it low risk. However, they might love it a little too much. Mortgage debt has seen astronomical growth over the past couple of decades. This is often attributed to large economic growth, however the mortgage debt to GDP ratio shows that might be a fib. Canadian mortgage debt has been growing at nearly twice the pace of GDP, and now has grown to over 80% of the size.

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Original Article Source Credits:   Better Dwelling , https://betterdwelling.com/

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