Financial Expectations and Household Debt
Author: René Morissette
Topic: Credit & Debt
Publisher: Statistics Canada
Location: Canada
Format: Report
Content Type: Research
Publication Date: April 4, 2019

This Economic Insights article quantifies the degree to which families who expect their financial situation to get better in the next two years have, all else equal, more debt than comparable families.

The study shows that even after a large set of socioeconomic characteristics is controlled for, families who expect their financial situation to improve in the near future have significantly more debt and generally higher debt-to-income ratios than other families.

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