People already try to outbid each other for limited housing or education. Recall how cheap mortgages and student loans have driven up the price of these things. We shouldn’t give people even more self-harming ways to overpay for these things.
Housing is actually a great example of what the original post argued against. The reason housing is expensive in some places is a limited supply (restrictions on building, restrictions on what kind of house can be built) combined with an increasing population. Preventing people from paying for housing in bad ways just makes them homeless instead. Fixing the real problem would involve building and legalizing more housing and then you’ll find that fewer people need to make hard decisions to pay rent.
People already try to outbid each other for limited housing or education. Recall how cheap mortgages and student loans have driven up the price of these things. We shouldn’t give people even more self-harming ways to overpay for these things.
Housing is actually a great example of what the original post argued against. The reason housing is expensive in some places is a limited supply (restrictions on building, restrictions on what kind of house can be built) combined with an increasing population. Preventing people from paying for housing in bad ways just makes them homeless instead. Fixing the real problem would involve building and legalizing more housing and then you’ll find that fewer people need to make hard decisions to pay rent.