Stats Can report on Canadian household debt
Queen’s University finance professor Louis Gagnon is available to comment on Friday's Statistics Canada report about household debt in Canada.
The report examines the distribution of household debt across key characteristics. It also studies the association between financial knowledge and household debt. Dr. Gagnon will read the report on Friday morning and be available comment on the findings.
Dr. Gagnon believes Canadians carry too much debt.
“In response to the low interest rate environment following the credit market meltdown, Canadians have become even more deeply indebted than their neighbors to the south were before the Great Recession. Property prices in Canada won't rise indefinitely and interest rates will rise eventually so it is high time for Canadians to heed the warning calls, to put themselves in risk management mode, and to ease off on financial leverage,” Dr. Gagnon says.
Please note on Friday, Dr. Gagnon is available before 10 am, between 11:30-noon, and after 2 pm.
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