u/Agreeable_Object_483

I’m trying to buy a house in Thunder Bay right now and the math just isn’t mathing.

I’ve been looking at single-detached homes in the $300k–$600k range, and it is absolute chaos. On any given house, there are 10–18 offers. My realtor’s current rule of thumb is to bid $10k over asking for every offer on the table. That is insane.

Inventory seems stuck at 100–120 houses month-to-month. While I hear a lot about "densification," there seems to be zero plan or direction from the city to address the actual shortage of single-family homes.

A few questions for the sub:

• Market Outlook: Do you think this "parabolic" trend is the new normal, or is a correction coming?
• The City: Do you think the city will actually address the detached-home shortage, or are they just going to keep pushing multi-unit infills?
• The Experience: Is anyone else seeing 15+ offers on everything, or am I just having bad luck?

Would love to hear everyone’s outlook for the next year or two.