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While Canadians are collectively more indebted than they’ve ever been, Calgarians appear to be bucking the trend, according to a recent report by a federal agency.

Canada Mortgage and Housing Corp. released its latest Housing Observer report this month, which examined household debt-to-income ratios.

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And it found Canadians as a whole are again near an all-time high for indebtedness relative to their income.

“We typically get the debt-to-income ratio from Stats Canada every quarter, and the number often is around 170 per cent, meaning we have $1.70 worth of debt for every $1 of disposable income,” says Brent Weimer, senior specialist for socio-economic analysis with CMHC.

In fact, after increasing for a number of quarters, the ratio for the second quarter of 2018 stalled 170 per cent for all of Canada in part because of Alberta’s two largest cities.

The report found Calgary households were down eight per cent year over year for the second quarter of 2018 to 162 per cent. In other words, the average household in the city owed just $1.62 of debt, which includes mortgages, car loans, lines of credit and credit cards, for every $1 of disposable income (earnings after taxes).