House purchase - Experiences with open bidding process?

You mean: one bids too cautiously because one calculates backwards with regard to one’s reserves what one would need to raise the standard to 2010, and the successful co-bidder was content to just beam the post-war witch’s house into the year 1980?

Exactly. I keep saying it, people buy up to their financial pain threshold. Those who invest money in renovation have less money for the purchase price. There are people for whom stylish living is important (certainly the new build and 200k core renovation faction here in the forum) and many other people who have different priorities in life. Sports, garden, being in nature, beer, TV, etc... these people don't need facade insulation and large-format tiles in Pinterest design. Their own four walls are enough for them, and that's fine. And I think that is the majority of all people. You just don't notice it so much in your own (internet/Pinterest/home construction forum) filter bubble.

Exactly. I keep saying it, people buy up to their financial pain threshold. Those who invest money in renovation have less money for the purchase price.
There are people for whom stylish living is important (certainly the new-build and 200k core renovation faction here in the forum) and many other people who have different priorities in life. Sports, gardening, being in nature, beer, TV, etc... these people don’t need facade insulation and large-format tiles in Pinterest style. Their own four walls are enough for them, and that’s that. And I think that is the majority of people. You just don’t really notice it in your own (Internet/Pinterest/house building forum) filter bubble.

That already sounds a bit derogatory and like thinking in stereotypes. Why should one exclude the other?

No, it is not meant to be derogatory at all. And I do not see an exclusion of all shades of gray and other colors. I just want to refer to the surprise about high purchase prices despite an alleged need for renovations.

You probably won’t find any morality in the real estate business of recent years anymore. It’s just a brawl with no regard for losses. And the weaker one loses. I don’t need to make any compromises with myself about that. These are excesses of the market economy. Without social.

I assume that these people also like to live nicely. There is certainly a good part of despair and resignation involved. And the knowledge that one simply cannot afford more, at least not if one wants to own a house one day.