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Canada's household leverage isn't abnormal, … so claims one of the six Canadian bankster: National Bank of Canada 🇨🇦

“After controlling for fundamentals such as employment, population growth, housing tenure, immigration, education and the solidity of the welfare system, our analysis suggests that the ratio of household debt to disposable income in Canada is relatively conservative.

That settles it, … and never mind that Canadians have been binging on cheap credit and racked up expenses on homes and cars, pushing the ratio of household debt to disposable income to above 170%, … and never mind that Bank of Canada interest rates are rising [ … next hike is scheduled for mid next week!] will make it more expensive for borrowers to service the C$1.5 trillion [U$1.2 trillion] in mortgage credit outstanding, … and never mind that about 48% of all mortgages are scheduled for renewal in 2018!

Only in Canada!
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