I don’t think this will happen so literally but to your point this is a supply issue. All this does is increase effective demand (i.e. the number of people able to purchase a home). This is a band-aid over a hole in a sinking ship.
I mean we are almost there tbh, it’s not due to min wage though it’s due to producer greed. Super high cost for producers means super high ingredient cost, plus the shops greed means burgers are now over 4$ for fast food and > 12$ for actual burgers. 16$ for 2 burgers and a thing of fries at McDonald’s.
The reason I know it’s not the wage but greed, if that was the case the price would be stagnant in states closer to federal min wage, but those states are the similar pricing as well. For example, currently for 2 bacon mcdoubles a large fry and a large lemonade at mcdonalds
Huston texas; min wage $7.25; order cost: 12.56
Maine: min wage: $14.25; order cost: $15.76
Yes there is a difference in price but, the fact that one order makes up almost the difference in pay for a single employee at the establishment. The price is marked way higher than wage markup, it’s companies using it as an excuse to raise prices
can’t wait for all homes to go up 25k in response. Without purchase control this is useless
I don’t think this will happen so literally but to your point this is a supply issue. All this does is increase effective demand (i.e. the number of people able to purchase a home). This is a band-aid over a hole in a sinking ship.
Well, its only for first time buyers, so that will temper things. I predict homes will only go up about $23k.
more like 60-125k since people will have more for a down payment
“Can’t wait for burgers to cost $25 because the minimum wage went up”
I mean we are almost there tbh, it’s not due to min wage though it’s due to producer greed. Super high cost for producers means super high ingredient cost, plus the shops greed means burgers are now over 4$ for fast food and > 12$ for actual burgers. 16$ for 2 burgers and a thing of fries at McDonald’s.
The reason I know it’s not the wage but greed, if that was the case the price would be stagnant in states closer to federal min wage, but those states are the similar pricing as well. For example, currently for 2 bacon mcdoubles a large fry and a large lemonade at mcdonalds Huston texas; min wage $7.25; order cost: 12.56 Maine: min wage: $14.25; order cost: $15.76
Yes there is a difference in price but, the fact that one order makes up almost the difference in pay for a single employee at the establishment. The price is marked way higher than wage markup, it’s companies using it as an excuse to raise prices