What is bigger, the consumer credit bubble or mortgage credit bubble?

We all know that household debt in Canada has followed the US path as both have had an explosive expansion of growth compared to incomes and GDP over the last 30 years.

But what is bigger in Canada, the consumer credit bubble, or the mortgage credit bubble?

First, we all know that mortgage debt takes up 70% of all household debt.

And mortgage debt takes up a bigger percentage of incomes and GDP

compared to how consumer credit stacks up with GDP and incomes.

But what has grown faster over the years?

 

1982 is fine, let's go back even further to 1969.

Currently, consumer credit is growing at about 2% year over year, about the same pace as inflation.  Mortgage credit is growing at just under 8%.

Looks like the mortgage credit bubble wins.