A question for everyone who thinks houses are an investment: How much would a market decline hurt you? The Globe and Mail wants to help.
Help yourself be a smarter homeowner by using The Globe and Mail’s Housing Price Correction Calculator to find out. Housing bulls, don’t self-combust. Our calculator shows the result of both price gains and losses over the next five years.
Want to see what a 25-per-cent decline would look like in today’s market? Our Correction Calculator shows you the numbers for the Canadian market as a whole, as well as the Big Three markets of Vancouver, Calgary and Toronto.
The calculator in no way predicts a downturn in housing prices. It’s only a tool for helping people understand how both declines and increases in house prices might affect them.
Be cautious when viewing how a rising market will increase the value of your home. Interest rates are close to rock bottom levels after a 30-year down cycle and likely to rise in the next couple of years. The impact on affordability will be significant.
Are you looking to invest in property? If you like, we can get one of our mortgage experts to tell you exactly how much you can afford to borrow, which is the best mortgage for you or how much they could save you right now if you have an existing mortgage. Click here to get help choosing the best mortgage rate
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