ultrarunner

There you have it folks, the fat lady finally sang

http://www.ctvnews.ca/canada/average...-700-1.1037894

Novocastrian

Well, so much for the 1.5X annual income cliché.

Shard

Indeed.

Almost Canadian

After posting I realised it stated disposable income, hence the deletion.

Novocastrian

I saw that too. Moreover about 40% of the $26K is purported to be financing loans on new cars. I'm not sure if that technically counts as unsecured (the car has a value which can be realized if the loan defaults) but either way car loans are somewhere between 0% and something not much bigger at the moment.

I have 5 year financing fixed at 0% at the moment on my Hyundai: It's difficult for me to think of that as a debt. I could have paid cash, but 1/60th of the purchase price will be worth less in 5 years than it was when I bought it. So really it's a saving.