A noted American investor, who won big betting against subprime mortgages in 2007, now seems to be Bearish on Canadian housing, reports a Canadian financial website.

The Motley Fool Canada website said Dallas-based Kyle Bass and his hedge fund Hayman Capital, has a history of making outlandish calls, but also has a history of getting them right. During his latest outlook and opportunities talk, Bass had this to say about Canadian housing.

“Look, one of the potential butterfly effects (of a Chinese slowdown) is Canada… Canadian home prices are, on a median, nine times median income. The U.S. hit seven times at the height of the subprime bubble. Where Canadian housing sits today is completely unsustainable… All of the prescriptions for a problem in Canadian housing are out there… It sure looks to me that Canada is all of a sudden coming to a halt.”

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