Not every major expense is supply-constrained, though, particularly not the rigid supply constraints of real estate. So asserting that "supply constrained basic

Not every major expense is supply-constrained, though, particularly not the rigid supply constraints of real estate. So asserting that "supply constrained basics" will eat 100% of UBI is unrealistic. And even in cases where much of it will be consumed by cost of living, UBI will offer considerable flexibility, relative to current systems. Those who are homeless and/or long term unemployed will at least have some cash income that can be used to relocate or get them by. Lots of homeless people live out of their cars - and UBI will keep that car running and out of impound. That's just one example. In rural or small-town areas, cost of living isn't so much of a factor, if income is available. UBI will make things much easier for the rural poor. It will also have a tremendous impact on the middle class. It will reduce the dangers of financial emergencies and increase the savings rates for that majority who aren't in poverty but aren't rich either. Since need-based evaluation is no longer needed, administrative costs will go down considerably relative to the welfare state. And people will no longer be punished for working with a loss of benefits.