“A new analysis suggests Canadian non-mortgage debt rose to its highest level in nearly a decade during the second quarter.
The latest report of Canadian debt trends by TransUnion found the average consumer’s non-mortgage debt load rose to $26,221 in the second quarter.
That’s up 0.74 per cent from the first quarter of 2012 and up 2.41 per cent from a year earlier.
The credit reporting firm said that’s the highest average debt per person it has seen since it began tracking the variable in 2004.
There were wide regional variances, with the average debt load in B.C. hitting $37,879 [up 2.9% YOY]. Quebeckers, on average, have the lowest debt loads in the country, at $18,580 per person, the company said.”
- CBC 23 Aug 2012
Less cushion in a downturn.