The Financial Post reports in its Wednesday edition that the Canadian housing market is still being watched closely outside of the country. The Post's Geoff Zochodne writes that Steve Eisman, of Michael Lewis's "The Big Short" fame, has recommended "bearish bets" against Canadian financial companies. Canada's banks are big players in the housing market, which has clearly cooled over the past year. "We still view housing activity and prices as soft and downside risk as real," said a May 16 note from RBC. New regulations have raised the prospect of would-be homebuyers turning to institutions other than the banks for financing. Home Capital Group's Yousry Bissada said that those affected by the revised guideline are having trouble nailing down numbers because of changes in the market. "Private lenders are getting some business because a) they don't have that stress test, and b) sometimes they don't have the same documentation requirements, for instance," Mr. Bissada said. "But private lenders have limited capital. And at some point, they are going to have to be more particular about what they can lend or they're going to simply run out and people are going to have to find alternatives like us, again."