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The housing market in Toronto is a hot mess at the moment. When I told my friends in US that even for renting a condo, I had to put an offer that was more than

by raajg 5y ago

The housing market in Toronto is a hot mess at the moment. When I told my friends in US that even for renting a condo, I had to put an offer that was more than the asked monthly rent they were surprised and wouldn't believe me! The excessive imbalance in demand Vs supply also means that the owners have > 10 offers for each house and the prospective buyers/renters are just putting blind offers in the hope that their offer is more than most of the other offers.

cmrdporcupine 5y ago
The blind offer thing is particularly enraging. If our real estate market has degraded to being auction-based, that's awful, but fine, let's regulate it like an actual auction and demand transparency in pricing. Hell, make it a second price auction (second highest bid + $1 or so). Put in some sane rules, like an actual auction. Right now it's just awful.