Kanwar (Ken)  Kochar

Kanwar (Ken) Kochar

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RE/MAX Gold Realty Inc., Brokerage *

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Kanwar (Ken) Kochar's blog

Canadians put off buying to rein in debt

Canadians are cracking down on household debt, with 63 per cent planning to put off big-ticket purchases such as new cars and houses this year, according to a survey from PricewaterhouseCoopers.

“The sentiment toward debt reduction seems to be driven by prudence rather than major concerns about income or the economy,” according to the annual survey, released Tuesday, which points to an almost 5 per cent increase in the number of Canadians focused on debt reduction this year versus last.

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