By the numbers: The growth of household debt in Canada

• 1.57 Trillion

Canadians’ household debt in the second quarter of 2011, reaching an all-time high this year.

• 34.6 per cent

Canadians’ housing equity at the end of 2010. That represents a 20-year low.

• 150.8 per cent

Canadians’ household debt ratio to personal disposable income in the second quarter of 2011, higher than our U.S. neighbours.

• 148.7 per cent

Canadian households’ credit market debt ratio to personal disposable income, second quarter 2011.

• 7.6 per cent

Percentage of Canadian disposable income that goes toward interest payments.

• 1 in 10

Number of Canadians who say even with a credit card or line of credit they would have trouble paying an unforeseen $500 expense.

• 27 per cent

Percentage of non-retired Canadians who don’t commit to any type of savings, not even for retirement.

• 35 per cent

Percentage of Canadians who say their debt is increasing.

• 46 per cent

Number of low-income households who report their debt is increasing.

• 57 per cent

Percentage of Canadians who say day-to-day living expenses are the main reason for their rising debt.

• 1/3

Proportion of retired Canadian households carrying an average debt load of $60,000 into retirement.

• 4 in 10

Number of Canadians who don’t feel confident they’ll have enough money in retirement.

Source: Canadian Centre for Policy Alternatives (CCPA); Statistics Canada (2011 household sector indicators); CGA-Canada (2011 Report – A driving force no more: Have Canadian Consumers Reached Their Limits?)

Canada’s young families are facing growing financial pressures, and are experiencing a lower standard of living today than their parents did even though the economy had doubled in size since 1976.

Overall the average household income for young couples in Canada has remained static since the mid 1970s, while housing prices during that same time period rose 76% nationwide, and skyrocketed in certain provinces such as British Columbia (149%), and Quebec (93%).