Good Morning #Canada
A few weeks ago our local #CBCradio host was interviewing an debt counselor, likely due to the arrival of Christmas credit card bills. The segment reinforced the data that Canadians carry high levels of debt, unfortunately among the highest percentage of income worldwide. Mortgage debt, according to ##StatsCan, is flat to slightly declining, likely because new home purchases by younger Canadians is down, but car loans, personal lines of credit, and credit card debt are all up in 2025.
Our government continues to try and respond by offering tax credits and supplemental payments which invariably get sucked up by corporations. They have to change the game - build public housing or invest in leasehold or cooperative homes, build public options for utilities, internet, food or other necessities. Invest heavily in public transit and subsidize it so that it's low cost or free. Remove corporate profits from necessities.
#CanadaIsAwesome #Finance
https://globalnews.ca/news/11544814/canadians-debts-rise-survey/