Editing Economy of Canada (section)

===Household debt===
[[Household debt]], the amount of money that all adults in the household owe financial institutions, includes [[consumer debt]] and [[mortgage loan]]s. In March 2015, the International Monetary Fund reported that Canada's high household debt was one of two vulnerable domestic areas in Canada's economy; the second is its [[Canadian property bubble|overheated housing market]].<ref name="IMF_2015_CA">{{citation |title=2015 Report of the International Monetary Fund|work=International Monetary Fund |date=March 9, 2015 }}</ref>

According to Statistics Canada, [https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1010011801 total household credit] as of July 2019 was CAD$2.2 trillion.<ref name="Statistics Canada">{{citation|url=https://www150.statcan.gc.ca/t1/tbl1/en/tv.action?pid=1010011801 |title=Credit measures, Bank of Canada (x 1,000,000) |author=Statistics Canada |access-date=September 15, 2019 |date=July 2019 }}</ref> According to Philip Cross of the [[Fraser Institute]], in May 2015, while the Canadian household debt-to-income ratio is similar to that in the US, however lending standards in Canada are tighter than those in the United States to protect against high-risk borrowers taking out unsustainable debt.<ref name="Fraser2015">{{citation|url=https://www.fraserinstitute.org/uploadedFiles/fraser-ca/Content/research-news/research/publications/longer-term-perspective-on-canadas-household-debt.pdf |archive-url=https://ghostarchive.org/archive/20221009/https://www.fraserinstitute.org/uploadedFiles/fraser-ca/Content/research-news/research/publications/longer-term-perspective-on-canadas-household-debt.pdf |archive-date=2022-10-09 |url-status=live |title=A Longer-term Perspective on Canada's Household Debt |author=Philip Cross |access-date=August 7, 2015 |date=May 2015 }} {{dead link|date=December 2016 |bot=InternetArchiveBot |fix-attempted=yes }}</ref>