Insolvency Tsunami: Can Canada Swim Against the Tide? Canada's financial well being has taken a turn for the worse, with consumer insolvencies surging to levels not seen since the 2009 recession.
Recent data paints a dire picture, leaving many wondering whether Canadians are reaching their breaking point or if there's something more at play. One explanation lies in the increasingly unaffordable cost of living.
A $115,000 salary may seem comfortable, but it's often not enough to purchase a house in certain parts of the country. For Albertans, 60% claim it's difficult to meet monthly expenses.