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Mortgage debt taking up a record share of income
Author:
Steve Huebl
Publication date:
March 14, 2023
Article Summary:
The article titled "Mortgage Debt Taking Up a Record Share of Income" discusses the increasing burden of mortgage debt on Canadian households. It highlights that mortgage debt has reached a historic high in terms of its share of income, indicating potential financial strain for homeowners. The article explores the factors contributing to this trend, including rising home prices, low interest rates, and stretched affordability. It raises concerns about the long-term implications of high mortgage debt and emphasizes the importance of responsible borrowing and financial planning.
Keywords:
Mortgage debt, Record share, Income, Canadian households, Financial strain, Historic high, Home prices, Low interest rates, Affordability, Trend, Long-term implications, Responsible borrowing, Financial planning.
Source Citation:
Steve Huebl
Mortgage debt taking up a record share of income
March 14, 2023
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