Is that why stock trading and memecoins skyrocketed during the period where stimulus checks and enhanced unemployment benefits were rolled out? Or why video games reached record player counts during the pandemic (sure sounds like people who had nothing to do all day decided to play video games instead of do whatever productive thing you think they would have done!)?
And to add on to that - what makes you think UBI simply won't cause rents to go up to match? We have strong evidence from the current inflation situation that broad based wage gains get eaten up by price increases of goods with limited supply (i.e. the housing situation in every coastal city). Existing UBI experiments aren't widespread enough to materially shift the housing market. You can't go off evidence from giving a few hundred people extra money. And basic economics tells us that oligopolies (the rental market in coastal cities) extract all consumer surplus (the UBI money) because an oligopoly is not a properly functioning market.
And to add on to that - what makes you think UBI simply won't cause rents to go up to match? We have strong evidence from the current inflation situation that broad based wage gains get eaten up by price increases of goods with limited supply (i.e. the housing situation in every coastal city). Existing UBI experiments aren't widespread enough to materially shift the housing market. You can't go off evidence from giving a few hundred people extra money. And basic economics tells us that oligopolies (the rental market in coastal cities) extract all consumer surplus (the UBI money) because an oligopoly is not a properly functioning market.