Go to Main Content

Advertisement

By MoneySense Staff on June 6, 2012
Estimated reading time: 1 minute

June 6 roundup

By MoneySense Staff on June 6, 2012
Estimated reading time: 1 minute

On the ambitions of indebted Canadians and a private B.C. island on sale for a cool $75M.

This article is 10 years old. Some details may be outdated.

Advertisement

•Roughly half of indebted Canadians expect to be debt-free within the next five years, according to a new BMO report. One has to wonder if the projections are overly ambitious considering the average household debt load in Canada, including mortgage, credit card, line of credit and loan debt, is $112,329. Still, there is hope. “After the lengthy run-up of the past decade, it’s encouraging that many Canadians are planning to rein in their debt, as interest rates won’t stay low forever,” Sal Guatieri, senior economist, BMO Capital Markets, said in a release. ” Household credit growth has slowed to 5% in April from a 9% clip over the past 10 years. •Check out this private B.C. island up for grabs. It could be yours for a cool $75 million. James Island, just 2 kilometres east of Central Saanich, was the eco-retreat of telecommunications pioneer Craig McCaw and his wife, Susan Rasinski McCaw, the former U.S. ambassador to Austria. It includes a 5 ,000-square-foot main house, a half-dozen cottages, a private air strip and a rarely used 18-hole golf course.

Comments Cancel reply

Related Articles

A woman using the MoneySense Finder tool at her work-from-home desk

Buying ETFs in Canada Tool: The MoneySense ETF Screener

Which ETFs should you invest in? Which ones best suit your risk tolerance? What about personal ethics? Check out...

Buying ETFs in Canada Tool: The MoneySense ETF Screener

A Laurentian Bank sign is seen in Montreal, Friday, Aug. 30, 2024

Stock news for investors: Laurentian bank and BRP

Laurentian Bank reports profits and BRP reports healthy margins and posts for a new CEO.

Stock news for investors: Laurentian bank and BRP

Vickram Agarwal and his first car in Canada, a used white Nissan hatchback

Newcomers to Canada

Buying a car in Canada: 7 tips for newcomers

What you need to know about buying and leasing, credit scores, auto insurance and more.

Buying a car in Canada: 7 tips for newcomers

Canadian couple in their first home happy the BoC held its rate.

Making sense of the Bank of Canada interest rate decision on June 4, 2025

Making sense of the Bank of Canada interest rate decision on June 4, 2025

The Bank of Canada in Ottawa

BoC held its rate on June 4—here’s why

The Bank of Canada held its key rate at 2.75%, citing high uncertainty, tariffs and more.

BoC held its rate on June 4—here’s why

A hopeful-looking older woman on her living room sofa

Planning to use your home equity in retirement

Real estate equity is a big part of seniors’ net worth. Some Canadian retirees may want or need to...

Planning to use your home equity in retirement

Two women sit on the floor with laptops researching HISA rates

The best high-interest savings accounts in Canada for 2025

Whether you want the highest interest rate or no service fees, these savings accounts will meet your needs.

The best high-interest savings accounts in Canada for 2025

The best GIC rates in Canada for 2025

Find the best GIC rates in Canada. Plus, everything you need to know about how they work.

The best GIC rates in Canada for 2025

A woman reads messages on her tablet

Fraud and Scams

Relationship fraud and romance scams: What Canadians need to know

Relationship fraud and romance scams: What Canadians need to know

A person is seen holidng a Nvidia computer chip

What’s behind the Nvidia rally?

Nvidia rallies as the rest of Wall Street drifts after a U.S. court blocks many of Trump’s tariffs.

What’s behind the Nvidia rally?