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This works fine for unfinanced products, but when financing enters the picture, it becomes a "who is the most willing to take on debt" contest. People who can't
by jollyllama 4y ago
This works fine for unfinanced products, but when financing enters the picture, it becomes a "who is the most willing to take on debt" contest. People who can't think ahead win these, the prices are driven up for everyone else, and nobody has a good time in the long term.
- jjoonathan 4y agoYep. Even worse: the housing market. The pattern seems to be: if you create value, you get optimized away. If you buy, screw things up to create scarcity, and flip, you make bank.
- jollyllama 4y agoAbsolutely. Also, higher education.
- jjoonathan 4y agoHealth care, housing, and education -- every year you pay more and get less. It's like Amdahl's Law for capitalism: some things are easy to optimize, other things aren't, and eventually the things that aren't easy to optimize dominate the system.
- grouchomarx 4y agofantastic point.