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“When supply can't keep up with demand, the result is bidding wars. And in bidding wars, there are always winners and there are always losers. There are no mutually beneficial outcomes. So from an economic perspective, this is extremely wasteful.” — Hendrith Vanlon Smith Jr, CEO of Mayflower-Plymouth
When supply can't keep up with demand, the result is bidding wars. And in bidding wars, there are always winners and there are always losers. There are no mutually beneficial outcomes. So from an economic perspective, this is extremely wasteful.