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Many minimum-wage workers can't even afford a modest one-bedroom apartment, according to the National Low Income Housing Coalition's annual report.
The national housing wage for a modest one-bedroom apartment is $17.90, while the federal minimum wage is $7.25.
A low-income worker earning the federal minimum wage would need 2.5 jobs to afford a one-bedroom apartment.
and what is so hard for some to understand? Min wage jobs were never expected to be the main source of income. They are for kids just entering the work force, moms who want to pick up a few extra bucks each week and regular workers who,for whatever reason need to work a second job on a part time basis. Of cours the min wage isn't going to support even a single person.
But nowhere was it ever mentioned that your "basic living" would be a 1-bedroom apartment, that you live in by yourself. If you can afford that, then certainly rent it. Otherwise, do what many of us did when we made minimum wage: get a larger bedroom place and a couple of roommates.
And you most certainly "don't get" that someone might want more money for their property. That entire sentence is dripping with entitlement.
Why are you only concerning yourself with the renter, and their need for a certain income? That rental property provides income for the owner. And since they OWN it, they can "price it" however they want. Why WOULDN'T they price it to get the most money for it? They don't own any renter anything.
Yes exactly. Many landlords figure on just making $100 per unit of course it varies depending on financing . Owning rentals is a long game . But they are running a business. I don’t get that people think they should only have to pay a certain amount for housing .
If they are selling their car for example or some other item would they expect less than they could get ? No they wouldn’t .
Right now in L.A we have these tenants protesting rent increases.. they are going so far as to go to the landlords home and scream with bullhorns to intimidate and embarrass them .
Entitlement mentality runs deep here .
Always same excuse. Demand in the area. Right owner cant force somebody to rent, but what is forcing you to keep raising the prices? If they dont raise taxes or any expenses you have to pay out of pocket, what reasoning you have to raise prices? nothing changed other then the person salary.
Clearly you have no idea how the real world works. You honestly think that taxes and expenses only raise for the renter?
In any case, it doesn't matter. Rents are not determined by how much the landlord stands to make. It's determined by supply and demand. If you can't understand that concept, you can look it up.
and what is so hard for some to understand? Min wage jobs were never expected to be the main source of income. They are for kids just entering the work force, moms who want to pick up a few extra bucks each week and regular workers who,for whatever reason need to work a second job on a part time basis. Of cours the min wage isn't going to support even a single person.
True , it’s pretty basic math . Also some act like min wage is a life sentence like we have a caste system here and those that start at min wage have to earn min wage until they die .
I’ll never forget I saw a lady on the news at one of the fight for $15 hr protests
She said if she could make $15 hour she could afford to support her FIVE kids without welfare ..
This was in L.A ..
Yea i seen that, and was like well stop playing "house" then you might not be in the situation you are in.
Quote:
Originally Posted by ringwise
But nowhere was it ever mentioned that your "basic living" would be a 1-bedroom apartment, that you live in by yourself. If you can afford that, then certainly rent it. Otherwise, do what many of us did when we made minimum wage: get a larger bedroom place and a couple of roommates.
And you most certainly "don't get" that someone might want more money for their property. That entire sentence is dripping with entitlement.
Why are you only concerning yourself with the renter, and their need for a certain income? That rental property provides income for the owner. And since they OWN it, they can "price it" however they want. Why WOULDN'T they price it to get the most money for it? They don't own any renter anything.
Im just playing the devils advocate here. From my prospective, goods needs to be base on the average salary in the area, not base on the top 10 high paying jobs end of the spectrum. *goods such as basic living includes food, housing/shelter, utilities.
why wouldn't they price it to get the most money, dont we call that being greedy?
say you went into the store and seen one loaf of bread for 10 bucks, knowing it only cost 10 cents to make. would you call that being greedy? knowing the next store over selling it for 2$.
Yea i seen that, and was like well stop playing "house" then you might not be in the situation you are in.
Im just playing the devils advocate here. From my prospective, goods needs to be base on the average salary in the area, not base on the top 10 high paying jobs end of the spectrum. *goods such as basic living includes food, housing/shelter, utilities.
why wouldn't they price it to get the most money, dont we call that being greedy?
say you went into the store and seen one loaf of bread for 10 bucks, knowing it only cost 10 cents to make. would you call that being greedy? knowing the next store over selling it for 2$.
Didnt one person try living with family and got kicked out and taken to court? Times has changed since it was introduce and honestly needs to be freshen to todays standards of living. If they kill the min wage laws, you will see a huge, HUGE drop in unemployment and huge jump in profits in the already monopolies companies we have now. You can profit so much then you got to invest it in your people, because sitting on 12 billion a year after all your bills are paid doesnt do anything to the economy. If every major fortune 500 company would cut the CEO/COO salary in half, they would have enough money to pay each of their employers a dollar more per hour and not hurt their bottom line. Heck, could even give them a 2$ increase and not sweat it with the shareholders. Why is they vote and always approve increase in their(CEO.COO,directors) salary, but will sht on those that need it the most ( employees)
He didn't have a job, and was in his 30s. Did you keep up with the story? Had he been working his family would have been fine with him living there.Cut the upper management salaries, some of these people have worked years to get where they are, they have put thousands of $$s into their education and you think it is ok to take from the rich and give to the poor. It doesn't work that way, but if you want to live in some other country maybe it would. You talk about a $ an hour more, that would still not make it possible for many people to live without a huge struggle. You mention the unemployment rate would go down if there was no min wage. Do you realize how low it is now?
Let me qualify my feelings. I am retired, and we live on a small retirement plus SS. My husband, at 81 still has a small pet sitting business to help us make ends meet. There was a time when we did have a pretty good life, but we didn't invest wisely and now we are paying for it. I do not resent those who have more than we do, they earned it. I might add when much younger I worked for min wage several times, so did hubby. We were young college kids or still in high school and that is what we were worth.
Yea i seen that, and was like well stop playing "house" then you might not be in the situation you are in.
Im just playing the devils advocate here. From my prospective, goods needs to be base on the average salary in the area, not base on the top 10 high paying jobs end of the spectrum. *goods such as basic living includes food, housing/shelter, utilities.
why wouldn't they price it to get the most money, dont we call that being greedy?
say you went into the store and seen one loaf of bread for 10 bucks, knowing it only cost 10 cents to make. would you call that being greedy? knowing the next store over selling it for 2$.
Something to keep in mind in this global economy .
Many people in an area aren’t using local wages to pay for goods and services and housing .
You also have people that don’t earn a wage but still have money from investments .
Lot’s of people have a house in California but they make their money in out of state or out of the country .
China is minting a Billionaire every five days and they love American real estate especially here in California .
They want their kids to have American educations too .
This stuff wasn’t happen much in the 70s 80s China’s economy wasn’t anywhere near what it is now and this is just one example .
Anywhere that has global demand is going to be expensive because you are competing with the world .
The Chinese millionaire or billionaire isn’t looking to buy property in a rural town in the Midwest usually . They want place in L.A or NYC
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