Household Debt Soaring Among Canada’s Young Adults, And It’s Not Mortgages

High house prices and the mortgage stress test are making it as difficult as it’s ever been to buy a house, but young Canadians are finding other reasons to borrow money these days ― like covering their day-to-day living costs.The latest “Insights” report from credit rating agency Transunion found the total money owed by Canadians rose 4.3 per cent over the past year, to $1.88 trillion.Much of that increase came from young people. Among millennials, debt jumped by 12.3 pe