Chic Silver Jewelry
Region: US
Friday 10 July 2026 02:47:36 GMT
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![A viewer left a comment that felt like checkmate. $700K home up 3% = $21,000. TFSA at 7% = $9,100. Homeowner wins, end of debate. The math skips fifteen lines. In this video I run those exact numbers in Ontario. $700K home, 20% down, 4.29% mortgage, 25-year amortization. Year 1 unrecoverable carrying costs come out to $38K, already $17K underwater on cash before any comparison. Same starting cash invested at 7%? Renter ahead by $27K in Year 1. With the home up 3%. Then three reasons the leverage argument feels stronger than it actually is: 1. Leverage and equity move in opposite directions. As you build wealth in the home, you erase the leverage that justified buying it. Day 1 you have 5x leverage. Year 10 you have 2.4x. 2. Leverage works both ways. A 15% drop wipes out the down payment after round-trip costs. Toronto is currently down 9.5% YoY (Teranet, March 2026). The 1989 Toronto cycle took 13 years to recover nominally and 22 years to recover in real terms. 3. The kind of leverage matters. A traced margin loan or a properly structured Smith Manoeuvre is deductible under ITA section 20(1)(c). Mortgage interest on a Canadian principal residence is not. Canada is not the US. Honest version: at 5% appreciation the gap shrinks to $13K. At about 7% appreciation, the owner catches up. The leverage edge isn't fake. It's just contingent on the home outpacing what your portfolio would have done, after the carrying costs eat the first chunk. 📊 Want the multi-city Excel companion covering Vancouver, Toronto, Calgary, Montreal, and Halifax? It's free in the Calm Money Community. 🔗 Calm Money Community: [link] 📚 Sources Income Tax Act of Canada, s.20(1)(c) CRA Income Tax Folio S3-F6-C1 Dimson, Marsh, Staunton — UBS Global Investment Returns Yearbook 2025 Knoll, Schularick, Steger —](/video/cover/7635014381494963476.webp)
