The September figures come in the wake of Q2 numbers from Statistics Canada that showed the ratio of national mortgage debt to GDP reaching 84.28%. To compare, the level was 69.13% of GDP during the same time last year, and 59.02% a decade prior.

“That means during that period, mortgage debt grew over 40% faster than GDP,” Better Dwelling said in a separate analysis. “Considering this ratio was just 39.62% in 2000, that’s a huge increase. Especially if the economy doesn’t just bounce back to pre-pandemic levels of activity soon.”

Leave a comment
	Logout --- please select --- Anonymous Login or Register
	Email: Password: Login or Register - Cancel First Name: Last Name: Email: Password: Confirm Password: Register or Login - Cancel