Approximately four-out-of-ten homeowners have been “caught short” in the past year –  without enough money to meet their living expenses.

The unsettling news comes from a Manulife/Environics survey – polling almost 2,400 homeowners in all provinces between the ages of 20 and 59 – with household incomes of $50,000 and more.

The survey paints a gloomy picture of Canadians with increasing debt – who could be in trouble if interest rates start rising.