Canadian Household debt surpasses levels foreshadowing U.S. housing bust

Canadian household debt has shot past the sky-high levels that foreshadowed the U.S. housing bust.

But it’s taken a statistical revisions by Statistics Canada to get there.

Canadians’ debt-to-income ratio reached 163.4 per cent in the second quarter, up from 161.7 per cent at the end of last year.

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Posted in * Economics, Politics, * International News & Commentary, Canada, Consumer/consumer spending, Economy, Housing/Real Estate Market, Personal Finance, The Banking System/Sector, The Credit Freeze Crisis of Fall 2008/The Recession of 2007--