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It’s all about indebtedness
We’ve all heard the warnings about a housing crash, and all have our own opinions about its likelihood. But there’s a bigger picture around consumer indebtedness generally: it’s never been this high. True enough, the cost of borrowing has never been this low. But this deep dive into the state of Canada’s increasingly in-the-hole middle class may give you pause.
Previously: https://www.bcbusiness.ca/How-the-real-estate-boom-has-left-British-Columbians-feeling-bothcut-richer-and-poorer-than-they-really-are
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