Globe and Mail: How Canada’s suburban dream became a debt-filled nightmare
Sep 16, 2019, 15:42 PM
Rachelle Younglai and Chen Wang
Environics Analytics helps the Globe and Mail pinpoint the 100 most financially stressed neighbourhoods in the country.
The year long investigation profiles the census tracts with the highest debt service ratios in Canada. The suburbs used to be where young families could afford to buy a home, but increasingly these areas are feeling financially strained.
“When you have a lot more financial pressures like we do now, people are forced to make tougher choices,” says Peter Miron, Environics Analytics’ Senior Vice President, Research and Development and the architect of WealthScapes. “It’s not a question of how much debt you have, it’s more a question of, how much debt do you have relative to your income.”
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