Canadian Mortgage Debt Hits 100% of GDP, Crisis Risk Surges

The US had the subprime debt crisis in 2008, and Canada was unscathed and became the poster child of the G7. In 2022, with Canadian mortgage debt equal to GDP and growing at a faster rate, this figure doesn’t include private mortgage debt, HLOCs, credit cards, etc., creating major concerns about debt servicing. Can our economy endure more debt or will this become our black swan?