Uploaded August 2026 | Updated September 2026, 2 weeks ago
Debt levels for the working poor are now “staggering,” says one of the country’s largest credit monitors. Equifax Canada yesterday in a report to the Commons industry committee said financial circumstances for millions are much worse than headlines indicate.
“Canada’s credit challenges are far more concentrated and severe than the surface numbers suggest,” said Hutchison. “The debt to income ratio across Canada has risen for several consecutive quarters.”
“Gen Z and millennial consumers combine to hold almost 50 percent of outstanding debt,” said Fabian. “Much of this debt especially among millennials is mortgage debt.”
3.8 million clients visit the Daily Bread food banks. 5 years ago the number is 1.3 million.
Mad yet?
Subscribe for more truths every weekday morning at 9 am PST
Debt levels for the working poor are now “staggering,” says one of the country’s largest credit monitors. Equifax Canada yesterday in a report to the Commons industry committee said financial circumstances for millions are much worse than headlines indicate.
“Canada’s credit challenges are far more concentrated and severe than the surface numbers suggest,” said Hutchison. “The debt to income ratio across Canada has risen for several consecutive quarters.”
“Gen Z and millennial consumers combine to hold almost 50 percent of outstanding debt,” said Fabian. “Much of this debt especially among millennials is mortgage debt.”
3.8 million clients visit the Daily Bread food banks. 5 years ago the number is 1.3 million.
Mad yet?
Subscribe for more truths every weekday morning at 9 am PST
