Based on the evidence, blind-bidding does not ultimately drive up home prices, and requiring open bidding in a hot real-estate market may lead to higher, rather than lower, home prices. (Smart Property Institute in Canada)
This paper finds that the rules governing real estate bids likely do play a minor role in the average price of real estate. Ultimately, the major factor driving up real estate prices is supply not keeping up with demand, particularly demand driven by population growth. To ensure housing is available and attainable for all Canadians, the focus should be on relieving the bottlenecks preventing an adequate supply of family-friendly, climate-friendly homes from being built.
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