So you join a queue, to rent and pay someone to live somewhere…?
That sounds, odd to me.
Most people buy homes because
(1) it financially makes sense (you can sell and profit off the asset, further often the interest is tax deductible- depending where you live)
(2) legacy. Owning a place let’s you pass it to children. Renting means the house goes to the next tenant
The people who often “win” in these situations are the land lords. They now have a queue of people (paying to be in the queue), probably near 100% occupancy, and will make small increases to rent every year or two.