Everything You Were Afraid to Ask About Debt

Everything You Were Afraid To Ask About Debt: The response was fantastic. We asked our listeners to leave us questions through sound clips, email, Twitter and Facebook in advance of the show and took questions during the show. Ted Michalos and I answered as many of those questions as we could during the webcast. Canadians Debt-To-Income Ratio Why did we talk about debt? Because for many Canadians debt is a huge issue. The household debt to income ratio in Canada has doubled in the last 16 years and that’s alarming. Yet some are still not too concerned. We had one caller ask why he should be worried about his mortgage debt given the fact that house prices are skyrocketing in Toronto. In his experience his home is now worth significantly more than than his mortgage so why worry? As Ted pointed out: until you sell the house, you haven’t made any money at all. What you’ve got is a house with a mortgage payment.