The good news is: the Canadian household debt to disposable income ratio is shrinking.
The latest numbers from Statistics Canada put debt to income at 168%, or $1.68 owing for every dollar available to spend, as of the end of the first quarter this year. That is down from 170% in Q3 and 169.7% in Q4 of last year.
Credit market debt rose by just 0.3% in Q1, while wages rose 1.3%. Compared to the 4th quarter last year, mortgage borrowing declined by $2 billion to $13.7 billion in Q1, 2018.