September 5, 2017

Well maybe not so heart warming unless you are the lenders!

Average Canadian household consumer debt – not counting mortgages: $372,977,220,000

Canadian (Residential) “Bank” Mortgages: $1,400,000,000,000

Private Canadian (Residential) “Non Bank” Mortgages: (est.) $1,400,000,000,000 (CBA estimates that Canadians own 60% of equity in their homes after deducting bank mortgages, Stats Can suggests the figure is less than 20% ergo private and bank mortgages appear to have similar values).

Total Canadian household debt: $3,172,977,220,000 or $3,792,652,387,665 if we include the national debt of $619,674,167,665

Your household share is about $238,200 or $284,720 if we include the national debt.