By Robert Presser on August 31, 2014
Canadian consumer debt remains a concern to policymakers in government and at the BofC, and our real estate prices enjoy high single digit price increases year over year, which would not be possible without the generous variable rate mortgages the banks continue to hand out. Should you be worried or care about mounting debts in Canada? The answer is yes, since eventually either interest rates will rise to levels that the debtors cannot afford, inflation will re-ignite to destroy the value of your savings, or perhaps both, last seen in the late 1970s.
