Toronto/GTA Market Correction - Ripple Effects

[Darren Horrocks]

Hi,

First post at BP! My wife is sick of talking to me about investing, so hopefully I can become more involved in this community, and safe my wife her sanity! hah

I read this article today (January home sales give rise to correction concerns) discussing market correction in the near future for Toronto and Vancouver, given that now even the condo market is seeing double digit growth month after month, without a shortage of supply unlike in home prices.

My question is: 

• Is there a way to estimate or calculate the ripple effect of that correction to the surrounding markets? And how far it will reach?

I look forward to any insights and discussion!

Darren