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Ben Rabidoux is one of Canada's most vocal housing bears.

As housing prices - and consumer debt loads - continue to climb to new heights and the bank regulator looks to tighten mortgage lending practises, Mr. Rabidoux is increasingly worried about the real estate market in Canada.

"House prices in most Canadian cities have become detached from the fundamentals that traditionally underpin the market and instead have been driven by an unsustainable runup in credit," he says. "The next few years will look nothing like the past decade as there is a very high risk of substantial price declines in bubblier centres, particularly Vancouver."

Mr. Rabidoux is an analyst and strategist with M Hanson Advisors, a U.S. research firm that works with institutional investors. He covers Canadian macro economic trends with a focus on housing and consumer credit. He also has a website,

He joined us earlier to answer questions.

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