July 21, 2009

Calgary incomes fall hard in recession — more than Vancouver

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Credit-card bills, loans and a diving stock market sent Calgary residents’ household debt into the stratosphere and reduced their net worth at rates even greater than high-flying Vancouver, an analysis shows. Jason Markusoff’s story  in the Calgary Herald reminds us that Calgarans are a risk-taking lot. Some even took out loans to buy oil and gas stocks that continue to disappoint. Even with the bad news, Calgarans and other Albertans continue to have the highest levels of discretionary incomes and net worth, compared to other provinces.

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