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A comment on Canada bans foreign home buyers for two years. Parent comment

Re:Canada bans foreign home buyers for two years by bombcar on Tuesday April 19, 2022 @09:12AM (#31082619)
That “damn we would have paid X more” is exactly what it’s designed to encourage - we’re not good at calculating large numbers so once you’ve “made the decision” to pay $500k making a decision to pay $50k more is relatively easy (and seems like nothing).

In a normal Dutch auction style situation you’ll pay $1 more than the second highest bidder, which is a bit more fair.

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Re:Canada bans foreign home buyers for two years by shuntress on Tuesday April 19, 2022 @10:11AM (#31083370)
I think you mean a reverse Dutch action. Which is almost a regular auction.

In a Dutch auction (regular dutch auction. Not reverse.) there is no second bidder. The price starts too high and drops until the first bidder to decide the price is low enough (as it drops) buys.

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