Household debt in Canada reaches highest level amongst all G7 countries

New data released on Tuesday suggests high home prices are to blame for ballooning household debt in Canada, which now ranks as the highest of any other G7 country. It means Canadian households owe more in value than the value of the country's entire economy.  The report from Canada Mortgage and Housing Corporation (CMHC) warns that Canadians would not be able to weather a recession because of the high amount debt they owe. CMHC deputy chief economist Aled ab lorwerth says the country's deb