Report Suggests Banning Blind Bidding Will Increase Home Prices

During the\nrecent federal election campaign a ban on blind bidding (potentially under the\nfederal Criminal\nCode<\/em>) was proposed, arguing it drives up home prices.<\/p>\n\n\n\n

We heard from\nmembers who vehemently oppose this proposed ban on blind bidding and understand\nit would greatly impact how Canadians choose to sell their home, and how our\nREALTOR^{®<\/sup> members aid in the journey to homeownership.<\/p>\n\n\n\n}

Our immediate\nresponse included a statement on CREA.ca<\/a> and across social media in opposition of the proposed ban\nand encouraging all parties to instead focus on the primary issue: relieving\nthe bottlenecks preventing an adequate supply of housing across the housing\ncontinuum.<\/p>\n\n\n\n

In Australia, where they have implemented open bidding, housing prices are still high and continue to rise. The issue is that there is not enough housing supply to meet demand. More housing supply means more opportunity. Learn more at https:\/\/t.co\/bjjEERY75i<\/a> #REALideas<\/a> pic.twitter.com\/jswlyx0X5b<\/a><\/p>— CREA","ACI (@CREA_ACI) August 26, 2021<\/a><\/blockquote>