Canada’s housing market is “ripe for a pretty severe correction” with Canadian Imperial Bank of Commerce the most vulnerable, according to Steve Eisman, a fund manager at Neuberger Berman Group LLC. Here is a direct video link.
“In Canada, there’s some pretty good evidence that the housing market is finally starting to turn over,” Eisman said in a Bloomberg TV interview on Monday. “Canada is not going to crash, but it hasn’t had a credit cycle in 25 years. I think they’re about to have one.”
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