REAL 1820 Lecture Notes - Lecture 16: Household Debt, Averil Cameron, Canadian Dollar
30 Oct 2017
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Document Summary
Approximately 30 years ago, the canadian banking industry designed services focused specifically on the future of canada. By cultivating a youth market, banks began to reap the rewards from post-secondary graduates. The key to their strategy involved building a relationship at an early age that was difficult to break in future years. 1education of canadians at a young age is key to this strategy. In the competitive banking market, banks offer students access to loans to start early relationships for life. These strategies are intended to help win their long-term business; however, it is important for students to stay in control of debt. 2. Fast forward 20 years and canadians face a challenge with their growing household debt. Why debt continues to grow could be due the speed at which decisions for purchases are now being made. Consumer purchase decisions can already be made quickly. 5 and, consumers have access to many credit facilities that facilitate their growing debt.
