OTTAWA --
Some real estate experts and would-be homebuyers are calling for an end to “blind bidding” as a way of cooling what they say is an unsustainable housing market.
Karen Scutt is in the market for a new home in Toronto and placed an offer $100,000 above the asking price of a $1.8-million home, only to find out within minutes that she was out of the running as someone had bid upwards of $400,000 more than the asking price.
“They're pricing the houses so much under what they want that even if the listing is in your range, you're already resolved that you're not going to get it,” she told CTV News.