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(Fred Lum/The Globe and Mail)

Here's the problem with Pimco's negative view of Canadian property

To hear some influential international investors tell it, Canada’s housing market is headed for a deep freeze that could make the current winter from hell seem positively mild by comparison.

Increasingly bearish analysts have been warning for several years that an overheated real estate market is overdue for a cooling of some sort, ranging from a modest correction to an outright crash.