Baby boomers risking retirement by piling on too much debt

The raw numbers are bad enough. The ratio of household debt to disposable annual income has been rising steadily since 2007 and recently reached a record 153 per cent.

That puts Canadian households on the doorstep of the 160 per cent level, where Americans were prior to the housing collapse. But as the CIBC report suggests, households in other countries, particularly Denmark, the Netherlands, Norway and Switzerland have reached significantly higher thresholds without triggering a crisis.

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