Canadian’s balance sheets are improving following increases in real estate values and stock markets.  However in 2009 Canadians also increased debt through mortgages and loans, with the average ratio of household debt to income at 146.2%.

Household net worth up 1.6%, StatsCan | Financial Post

Canadian household net worth rose from October through December as individuals benefited from a rise in real estate and stock markets.

The value of families’ assets, such as houses and savings accounts, minus their liabilities increased 1.6% to $5.86-trillion in the fourth quarter, Statistics Canada said on Monday in Ottawa. Canada’s Standard & Poor’s/TSX composite index gained 3.1% in the period.

The ratio of household debt to income rose to 146.2% in the quarter from 145% in the previous three months, due to increased debts such as mortgages and car loans, Statistics Canada said.

Here is some selected data from Statscan detailing how Canadian debt levels relative to income.  The number that stands out is the last row – All credit as a percentage of income has grown nearly 7% (129.94% to 133.23%) over the last 5 quarters.