Banning Blind Bidding Does Not Address a Lack of Housing Supply
In response to this morning’s announcement of the Liberal Party’s Housing Plan, the Canadian Real Estate Association (CREA) does not believe criminalizing the way Canadians sell their homes is an effective solution to address a lack of housing supply.
Canadians have the right to choose how they want to transact what is likely the largest purchase of their lives. The proposed banning of blind bidding removes the ability for Canadian homeowners to sell their home the way they want.
Open bidding is still bidding. For example, in Australia where they have implemented open bidding, housing prices are still high and continue to rise. Homeownership remains out of reach for millions of Canadians because there is not enough housing supply to meet demand.
We’re encouraged that barriers to homeownership – like affordability and supply – have been part of the conversation this election. CREA stands firmly on the side of Canadian homeowners and believes that more housing means more opportunity.
We share our ideas to make homeownership a top priority for all political parties at REALideas.ca.