This is where I get lost in determining the correct way to assign a per-point value. If the points are rented or MMB'ed, they are still included in the denominator; you also still pay the MF on the points. So, the best offer for 150 points is $191 a point, renting each set/year of points at $20 ( and not paying taxes

) nets you less than $800 per year of points rented. So, in the hypothetical 3 years, the lowest per point is about $175 - where are people getting a lower value?
Earlier on someone mentioned 150pts CFW at $175pp after MB. For Aug, Sept, Oct and Dec UY, that would be 2024’s points.
The $135pp CFW resale contract was stripped out to Aug 2027 (I’m guessing it has a reservation within the next few weeks that borrow and also use 2026’s points?). While the seller could’ve been smart and resisted paying 2025’s dues, it’s very unusual to be getting a credit for next year’s dues so likely the buyer will be paying both 2026 and 2027 dues… just like the direct buyer.
Going back to the direct contract, selling 2025 and 2026 points would bring it to the same point total of the $135pp resale contract. The annual points loaded Aug 2027 would be the first available for their personal use (and both having the potential to borrow those points for reservations in their AUG 2026 UY.
^If all of this is correct, some math:
+$6,000 the difference between 150pts Direct @$175pp and Resale @$135pp
+$750 Direct would only pay 5 months more of dues than the resale contract
——— Total $6,750
But…
‘25 & ‘26 points still exist on that Direct contract, yet already gone on that Resale.
The Direct contract has them to rent out (resale was stripped). The easy route would be $16pp through a broker, though more money could be made by spec renting at $20pp or even $25pp. Those 3 scenarios:
A) $4,800 = 300pts x $16pp - resulting in Direct costing $1,950 more than resale
B) $6,000 = 300pts x $20pp - resulting in Direct costing $750 more than resale
C) $7,500 = 300pts x $25pp - resulting in Direct costing $750 LESS than resale
Direct can also churn the full $29,000 through credit card points/bonuses ($26k plus you can still churn the MB $3k prior to the rebate. Resale limits this ability to max $5k or $7k depending on broker.
That would leave the gap between B and resale only a few hundred dollars.
While C is a clear winner - who wouldn’t want to spend less than resale yet get blue card and unrestricted points for the next 4+ decades?
Even looking at the final costs of A, I think many people would be happy to pay less than $2k extra for almost 50 years of blue card perks and 100% unrestricted points during that time (eta - especially when the alternative is being locked into one room size at one resort).