I really think people should think this through. Sit down with a pen and paper and write it out. Divorce the concept from housing, specifically. What would happen if we made it really difficult to build new cars? How would that affect used car prices? What cars would get built? https://twitter.com/_wayneburkett/status/1333795222912782336

Think it through! Would car prices go up or down? Would it be harder to obtain a cheap used car or easier? Would car manufacturers keep making low-end models or would they shift focus to "luxury" vehicles? Would Hyundai still exist? Would used cars be as widely available?

Would the cost of a used car go down, stay the same, or go up? Actually think it through. Would people treat cars as "investments" in this hypothetical? Or would they depreciate in value as rapidly as they do today? Would more or fewer poor people own cars? What would happen?

And here's a fun one: what kind of arguments would people be making from the other side? Like, imagine we didn't live in the counterfactual where car manufacturers are allowed to build as many new cars as they sell. What kinds of arguments against deregulation might you hear?

"We can't let automakers just build what they want! They'll only build luxury cars! After all, that's all they build today! Why should we assume they'll build anything else if we let them?"

"The problem is that rich people hoard cars. Used cars wouldn't be so expensive if rich people didn't treat them as investments. The issue is all these rich people speculating on the rising costs of used cars!"