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UWinnipeg Report Maps City Areas in Most Debt

April 6, 2015 11:16 AM | News

Luxury House

(Luxury house image via Shutterstock)

A new report released by the University of Winnipeg pinpoints city neighbourhoods submerged in the highest level of debt and bankruptcy.

The Living In the Red report maps out Tuxedo as being the Winnipeg neighbourhood carrying the most debt, but the risk of bankruptcy is low. Households in the North End and West End carry the lowest consumer debts, but the risk of bankruptcy is high.

When you look to Fort Rouge, the level of households carrying debt varies from block to block, but remains at a moderate level.

“This work opens the door to better understanding the extent to which non-mortgage debt is saddling Canadian households with a financial burden not seen before,” said Jino Distasio, director of IUS and associate vice-president, research and innovation at UWinnipeg.

“Our block by block snapshot provides a visual portrait of this trend while exploring some of the potential causes of high debt across the city.”

Statistics Canada data shows Canadian households are now in more debt since data began being collected in 1961.

The full report can be read below.