Canada’s freakshow real estate market has been drawing a lot of international attention as of late. A few weeks back VICE talked to an infamous Wall Street short seller who is betting against one Canadian mortgage lender, and claims our housing bubble may be ready to burst.
When they asked why he thinks we’re in for a bumpy ride, Marc Cohodes pointed to Chinese capital outflow restrictions, which limit citizens from moving more than $50,000 out of the country per year. He said investors from China are breaking those rules in order to move massive amounts of money into Vancouver real estate, and the Chinese government could choose to crack down on this at any moment.
Read the full article at VICE News.
