Canada has had a high level of household indebtedness for a number of years now, and that is a vulnerability for the economy. Certainly, if interest rates go up, it means consumption is more sensitive to increases in interest rates. Obviously, that's something we would take account of, but it is a vulnerability.
Having said that, during COVID, household indebtedness went down quite a bit. Before that, it was on a clear upward trend. It went down during COVID, and if you look at the six years since then, you'll see that it's been fairly stable since then.
As you said, though, this trend isn't equally shared across individuals. We do see evidence consistent with what you said, that people who are in debt have been getting more into debt. It's very concentrated in certain individuals.
Yes, they're in a difficult situation, but it's not the case that households overall are coming into—