Household debt not biggest worry | Business | Reuters

Canada’s soaring consumer debt is backed by solid assets, Prime Minister Stephen Harper said on Thursday, saying he was more worried about economic problems outside the country.Canadian households now owe C$1.65 for every dollar earned, a record level that has raised alarm among policymakers. Much of the debt is in mortgages as consumers take advantage of nearly five years of low interest rates to buy homes.

via Harper says household debt not his biggest worry | Business | Reuters.

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