22 June 2011

Meanwhile, Doug Porter, Deputy Chief Economist, BMO Capital Markets sees more optimism in this situation: “We have been much less alarmist than others on the topic of debt level, because often there are solid assets on the other side of the balance sheet”. He also added that in the first quarter households became wealthier due to higher house prices at the market.
Moreover, while debt levels are growing, rate of increase is slowing, which is quite positive sign.