Canadian consumers may be carrying record levels of debt but they are doing so responsibly.
Canadian consumers may be carrying record levels of debt but they are doing so responsibly. The Fraser Institute’s Phillip Cross, a former chief economist at Statistics Canada said in a note Wednesday that in most cases the debt that households are carrying is being used for positive reasons such as education, a new business and home loans. In his report he said that most Canadians are managing their debt well and despite the levels of debt, the cost of loans and mortgages is falling.
