The minimum wage had (and has) no impact on housing prices. The current U.S. minimum wage is $7.25/hour. Somebody making $15,080 per year will NOT qualify for a mortgage.
You clearly recognize that I talked about mrs bowlslurp and myself renting a duplex right? So what is this crap about mortgages?
Quote Originally Posted by DogbiteWilliams:
Money supply + criminally easy credit + low interest rates all combined to create a monstrous real estate bubble (commercial and residential):
The minimum wage had (and has) no impact on housing prices. The current U.S. minimum wage is $7.25/hour. Somebody making $15,080 per year will NOT qualify for a mortgage.
You clearly recognize that I talked about mrs bowlslurp and myself renting a duplex right? So what is this crap about mortgages?
As a small business owner in a poor state I can unequivocally say 2/3 of my workforce would be fired and I would have to figure out a way to make do with the reduced workforce
As a small business owner in a poor state I can unequivocally say 2/3 of my workforce would be fired and I would have to figure out a way to make do with the reduced workforce
Most years the minimum wage remains unchanged. A rational person would not claim it is pushing up rents.
I can't wait to hear how you think raising minimum wage won't have an effect on rental prices given the notion that many more young adults will choose to move out of the house sooner than normal.
Don't we already have a problem with too many people trying to make a career out of working the drive through window?
Quote Originally Posted by DogbiteWilliams:
In comment #22 you mentioned "cost," not "rent."
Based on your wording, I assumed you purchased that duplex just like my parents had purchased theirs.
Here is an article entitled "Apartment Rents Grow Faster Than Incomes":
Most years the minimum wage remains unchanged. A rational person would not claim it is pushing up rents.
I can't wait to hear how you think raising minimum wage won't have an effect on rental prices given the notion that many more young adults will choose to move out of the house sooner than normal.
Don't we already have a problem with too many people trying to make a career out of working the drive through window?
Why would a better wage cause lower ambition? A better wage creates a greater incentive to work.
If the minimum wage was cut to $5.00/hour, far more people would conclude that work doesn't pay and would choose criminal activity.
Just as many people will stop trying to better themselves if they can make a living wage while still young.
Thats why I said if the formula is good at lower wages it should still be good at all wages right? So if you think 15 an hour will stimulate the economy then why not 25 an hour? People will spend more money right?
Quote Originally Posted by DogbiteWilliams:
Why would a better wage cause lower ambition? A better wage creates a greater incentive to work.
If the minimum wage was cut to $5.00/hour, far more people would conclude that work doesn't pay and would choose criminal activity.
Just as many people will stop trying to better themselves if they can make a living wage while still young.
Thats why I said if the formula is good at lower wages it should still be good at all wages right? So if you think 15 an hour will stimulate the economy then why not 25 an hour? People will spend more money right?
its all about inflation really. golden state warriors tickets for their opening night are starting at 367$ this year!
it was not even 150$ in 2008! or 2009 or 2010 or 2011!!!
lebron is making 3 yr 100 mil deal inked a few days ago... shaq did not even get 3 year 59 mil did he? jordan didnt even get 3 year 55 mil right? how much did barkeley get when he was playing? larry bird? magic? dont think they got more than 4 or 5 mil a year.
auto mechanics did not charge 110$ in 2003 did they? well fast forward to 2016 many auto mechanics are charging 100+ tolls in california can vary from 2 $ all the way up to 10$. can u imagine paying 10$ toll in 1999? nah. not really.
to put things in perspective dan gilbert of quicken loans is making so much funny money because of all these crazy loans in housing.
as for people in san jose a good amount of the people make roughly 50-70 an hour. 10.30 is the min wage there. plenty of people are making gazillions off these IPOs and stock options causing people to ask why so much disparity. many poor people just watch warriors games from home. too poor
seattle is a diff place than say mississippi. or alabama.
i think if you have 25+ employees you have to pay that wage theyre saying.
15$ is not in effect for entire seattle region until ... say 2017 or 2018.
its all about inflation really. golden state warriors tickets for their opening night are starting at 367$ this year!
it was not even 150$ in 2008! or 2009 or 2010 or 2011!!!
lebron is making 3 yr 100 mil deal inked a few days ago... shaq did not even get 3 year 59 mil did he? jordan didnt even get 3 year 55 mil right? how much did barkeley get when he was playing? larry bird? magic? dont think they got more than 4 or 5 mil a year.
auto mechanics did not charge 110$ in 2003 did they? well fast forward to 2016 many auto mechanics are charging 100+ tolls in california can vary from 2 $ all the way up to 10$. can u imagine paying 10$ toll in 1999? nah. not really.
to put things in perspective dan gilbert of quicken loans is making so much funny money because of all these crazy loans in housing.
as for people in san jose a good amount of the people make roughly 50-70 an hour. 10.30 is the min wage there. plenty of people are making gazillions off these IPOs and stock options causing people to ask why so much disparity. many poor people just watch warriors games from home. too poor
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