Canadian Millennials are much more indebted than previous generations, according to RBC. Older Millennials and younger Gen Xers (between 35 and 44 years old) had a debt-to-income ratio of 250% in 2019. The bank highlights this is a whopping 100 points higher than the 150% the same age group carried 20 years ago. As for younger Millennials (under 35), a shift in the type of debt is the primary concern. This demographic has a debt-to-income ratio of 165% in 2019, moving little since 1999. However, the bank emphasizes the homeowner rate is much lower today, finding just 30% have a mortgage. The takeaway here isn’t just that incomes are failing to keep up. https://betterdwelling.com/canadian-millennials-are-failing-to-keep-up-putting-the-economy-at-risk-rbc/