The perfect storm in the Canadian housing market


Locutus
+1
#1  Top Rated Post
Billion Dollar Fund Manager Comes Out of Retirement To Bet Against Canadian Real Estate

You may not know who Marc Cohodes is, but the 55 year old retiree is a Wall Street legend. So when the man the New York Times once called “the highest-profile short-seller on Wall Street” decided to come out of retirement, we were dying to get in contact with him to see what he was betting against – turns out it’s the Canadian housing market.

Before retiring, Cohodes previously ran one of the largest hedge funds in the world, Copper River Partners. They managed over $1.5 billion in assets, and made a fortune betting against companies whose books and practices didn’t quite make sense. In 2008 Marc quit the financial game after a correct bet against Lehman resulted in a complication between Copper River and Goldman Sachs, which led to the fund’s demise.

Since then he’s retired from his trade desk, and runs Alder Lanes, a swanky chicken farm in Sonoma County, California. That is, until he started following the Vancouver and Toronto housing market, which in his words “makes the US look like Sunday school with what’s going to happen.” So we sat down with Marc and he explained to Better Dwelling co-founder Stephen Punwasi, the perfect storm he sees in the Canadian housing market – a mixture of rising home prices, foreign money laundering, and an unregulated sub-prime lending system most Canadians don’t even know exists.


mo


https://betterdwelling.com/city/toro...n-real-estate/
 
B00Mer
#2
It's an easy bet..

Our real estate market is 60% over valued.. save your pennies for some great deals.
 
Remington1
#3
How sweet, reminds me of the US bubble around 2005, times were sweet. The dream of everybody owing a home, even is it meant cheap food, no vacation, shopping at Value Village, and hi ho hi ho, in the end all that for nothing, most lost their nice unaffordable home.
 
Corduroy
#4
There's no dream of everybody owning a home in Vancouver.
 
pgs
#5
Sounds like he came out of retirement to lose .
 
Angstrom
#6
Quote: Originally Posted by Locutus View Post

Billion Dollar Fund Manager Comes Out of Retirement To Bet Against Canadian Real Estate

You may not know who Marc Cohodes is, but the 55 year old retiree is a Wall Street legend. So when the man the New York Times once called “the highest-profile short-seller on Wall Street” decided to come out of retirement, we were dying to get in contact with him to see what he was betting against – turns out it’s the Canadian housing market.

Before retiring, Cohodes previously ran one of the largest hedge funds in the world, Copper River Partners. They managed over $1.5 billion in assets, and made a fortune betting against companies whose books and practices didn’t quite make sense. In 2008 Marc quit the financial game after a correct bet against Lehman resulted in a complication between Copper River and Goldman Sachs, which led to the fund’s demise.

Since then he’s retired from his trade desk, and runs Alder Lanes, a swanky chicken farm in Sonoma County, California. That is, until he started following the Vancouver and Toronto housing market, which in his words “makes the US look like Sunday school with what’s going to happen.” So we sat down with Marc and he explained to Better Dwelling co-founder Stephen Punwasi, the perfect storm he sees in the Canadian housing market – a mixture of rising home prices, foreign money laundering, and an unregulated sub-prime lending system most Canadians don’t even know exists.


mo


https://betterdwelling.com/city/toro...n-real-estate/

If he's running his short for the next 25 years ya, He's definitely going to make some cash. 10 000 000 boomers about to kick the bucket. 1/3 of the population. Have a nice ride
 

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