New Stats Canada Household Ratios For 2012 1st Quarter

Stats Canada is out with the quarterly stats for households, here we go.  Household debt continues to climb and now stands at over 154% of personal disposable income.

 Household debt to GDP has stayed around the 94% mark since the beginning of 2009.

Homeowner's equity as a % of real estate is down from it's 2007 high of 71% to settle in at 66% as of the first quarter of 2012.

This even though the average house price in Canada has increased from just over $300,000 in 2007 to over $360,000 as of now.

Here is how Canada compares with the US with home equity.

Some may say that we need to look at debt to assets but the US said the same thing in late 90's and mid 2000's. 

The problem with this thinking is that while assets go up and down, debt remains until it is paid off.  As we all know Canadians have had less income and GDP growth but more debt growth than the Americans over the last 30 years.