Vancouver Households Non Mortgage Debt Rises 11.5% in Q4 2018 – Ellie Pourian

This allowed household debt to continue growing quicker than incomes, and pushed the debt to income ratio to a record high 178.5% in the fourth quarter. [.] The post Vancouver Households Non Mortgage Debt Rises 11.5% in Q4 2018 appeared first on Steve Saretsky.

As a result of the housing and mortgage crisis of the Great Recession, economists have been paying more attention to the liabilities portion of household balance sheets. Among the New York Federal Reserve Board’s many economic reports is the Household Debt and Credit report, which is released quarterly with data going back to 2003.

Comments: FHA Bailout Bill Passed House But Will Be Vetoed by White House White House plans to veto two key foreclosure proposals, says Frank. would allow the Federal Housing Administration to insure up to $300 billion in new loans.. The House has already passed.

Fuelled by mortgage growth, Canadian household debt rises to new record high. The total included $573.6 billion in consumer credit debt and $1.262 trillion in mortgage debt. The growth helped drive the ratio of household debt to disposable income to a new peak of 165.4 per cent in the fourth quarter, up from 164.5 per cent in the third quarter.

"Rather, as today’s data showed, the debt service ratio is likely to rise only gradually." Total household credit market debt grew to $2.11 trillion in the third quarter, up 1.4 per cent from the.

In postal codes where average household debt was below $1,000, home prices averaged $350,000 in the last census, compared with $840,000 in neighbourhoods with average debt above $200,000.

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Vancouver has seemed to do well economically over the last 15+ years, largely because of the issuance of new debt. Vancouver has ‘imported’ money. from foreign sources, yes, but also from fresh air (and the latter source is greater and more important). RE and closely related economic activity makes up 25% of BC’s GDP (2016).

Canada debt-to-income rises to record in fourth-quarter. The interest-only debt service ratio held at a record low of 6.1 percent, while the household savings rate jumped to 5.8 percent from 5.5 percent. The household debt service ratio, with is obligated payments of both principal and interest as a proportion of disposable income, edged down to 14.0 percent from 14.1 percent in the third quarter.

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The level of household debt increased again in the third quarter of 2015. Statistics Canada has revealed that Canadians owed $1.63 for every dollar earned, a debt-to-income ratio of 163.7 per cent, up one percentage point from the second quarter. On a seasonally adjusted basis, households borrowed $.

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