Average family debt hits $100,000
The Ottawa-based thinktank's 12th annual report, released Thursday, finds that average family debt has hit $100,000 and the debtto-income ratio is 150 per cent, meaning that for every $1,000 in after-tax income they make, Canadian families owe $1,500.
The level of US commercial and multi-family mortgage debt outstanding remained steady at $2.4 trillion in the first quarter of 2011, decreasing by only 0.1 percent, or $3 billion, from the fourth quarter of 2010, according to the Mortgage Bankers Association's analysis of the Federal Reserve Board Flow of Funds data.