beholy
78769
2303
79
May 13, 2021 5:57 PM
beholy
78769
2303
79
nuttybutniceguy
Only a $448 increase over 20 years?! Wow, that's impressive.
Nlchacon
Watch how the greedy start pushing inflation.
CanThinkOfUsername
I bet that the prices will go high nevertheless.
purina5
1200 for a fair market philly apartment. Its 1600 for a 1 bedroom 60 miles outside DC
UncleMeaty
Nobody ever said things wouldn't cost more if they didn't raise the minimum wage.
densepixel
Minimum wage in 2001 was 5.15
YokkoKurama
Minimum wage was $5.15 in 2001.
Capall
That's 43 hour weeks to cover just the rent alone, now add bills and food
Dukeboysz
Landlords who raise rent without providing anything extra cause more inflation than raising min wage. Change my mind.
blueyedwineaux
In 7 years my rent has increased by 56%. Utilities, food, transportation have all risen too. Pay? About the same.
symmetry7
I love living in a crumbling economy.
merrilywegoalong
Equity Firms are the majority property owners and this is the reason for increased costs
KurpleC
Living wage increase, like some retirement and financial benefits get for people.
TasteOfNoise
The minimum wage was not 7.25 in 2001
withoutstyle
Chris Rock on how companies approach minimum wage. "Hey if I could pay you less, I would, but it's against the law.”
JohnBrooks2001
If they raise minimum wage to $15 ,that rent will be $2500 a month. Watch and see. Tale as old as time.
SuperLongUserNameWithNothingToSayTheEnd
The Pennsylvania minimum wage in 2001 was the same as the federal, $5.15
TiKr9690
That's even worse then
derpderpderp182
Thank you. The current minimum wage is a joke. But this meme is wrong and doesn’t deserve upvotes.
drousnavat
That crowd is too busy licking boots to read this.
LurkMasterP
Many who say that things will cost more, are the ones who DECIDE those costs. They know it's true because they will make it true.
AccountCreatedToUpvoteDogs
Exactly. "we can't see a reduction in profit margins!"
youreathing
This is what happens when you encourage the wealthy to treat homes like stonks.
METROlD
Aaah rent control. The system that promises secure rent prices but actually drives them sky high.
asifwewouldbesomeonebetter
2001 can't be 20 years ago since the 90's was only 10 years ago
LeSethX
Yes, but 2020 was 5 years long by itself, so it balances out.
kmikl
2020 only seemed like it was 5 years... some of us were young when 2020 started.
Nunyajonesinc
A friend just rented the same studio I rented in Belltown Seattle in 2003-2004. I paid 665, he's paying 1850
cump
Friends and I rented a 3br house in seattle in 00s and it was 1700. Same place is like 4k now
FlatPlutoSociety
The house in Bellevue that my parents bought in the late 80s for $85K most recently sold for just under $1M. More than a 1000% increase.
icommentwithsteveharvey
NotRightNeverWrong
Sure, just faster is all.
icommentwithsteveharvey
Maybe we can cap CEO and upper management pay to a percentage of what the lowest employee makes like 30:1 instead of 300:1
ProppaGanda
95% marginal rate would help this.
shartedatmysonsgraduation
FYI: Aus min wage $20 but avg Sydney rent $2200/month. Accom is higher but other costs of living are comparable.
GemsAreOutrageousTrulyTrulyTrulyOutrageous
$20 AUD to $15.46 USD, so that'd be a $1700 rent. That's pretty rough, even on $15...
shartedatmysonsgraduation
Real estate has surged, ppl not happy. 2010: paid $440k for my house. Now worth $1mil. Utilities tripled. Wages barely moved. Sydney is $$$.
GemsAreOutrageousTrulyTrulyTrulyOutrageous
Congratz on your house going up, but 3x for utilities? Goddamn, dude. And no wage increase to meet inflation? Sounds like the US.
shartedatmysonsgraduation
Yeah, we seem to like copying our cousins. Especially the bad habits. Sigh.
crazymJunkie
Yet people still vote for the fools who let this happen
nooganfreisen
? ...sooooo ...ummmmm ...what exactly did the fools do that led to this?
PuzzledCompletely
We have a limited selection of fools to choose from.
fakezilla
They are not fool but smart and evil, and the voters are so dumb that they fight with the other voters to see who is dumber.
bugcooper
everyone in politics, for the last 70 years, let this happen
cattlegrazer82
Made*
NationofSchrad
Right, because they tell them the scary liberals are going to take away their meat if they don’t.
rieketh
“Holy shit Philly rent is still cheap” -Bay Area resident
misteremjay
Yeah, people in CA and NYC are flooding here when they realize that can get you a place in the middle of Center City, around everything
gaaaaalavant
Shit, I live in Portland. $1260 for two bedrooms would be a steal. I pay $1300 for a studio.
PeacefulBirchTree
Philadelphia is the poorest large city in the US.
FlatPlutoSociety
I live in Philly. The mortgage on my 3br house is just under $1100/mo.
nmdedkova
It very much depends on the neighborhood - in the best areas like center city, 2 bedrooms can be in the $2k, $3k, even $4k
candar
*cries in New Yorker*
theonewithadream
2900 for a two bedroom in not-a-nice-city-but-close-to-work
HoSlappa
seattle as well, fuck thats a decent price
Chimichanga007
Salaries are low also.
YourMoosieFate
*laughs from a Tokyo apartment... Then cries*
TheS4ndm4n
You mean your 1/3 of the triple bunkbed with a privacy curtain?
Rookvlees
Yeah, no. I lived in Philly in 2001. Rent was $1,800/month, parking included, though.
TheRealJoeHasenguy
Chicagoan here my 1 bed is $1900
peeeopeepeee
Far northern suburb here. $985 for 1000 sqf 2 bed 1.5 bath, just gotta like driving or riding the metra
nickwinters
Those rents are not in a part of Philly you want to be in. Double those numbers for a more realistic estimate.
TheStonedCrafter
And here I am still living with grandma in nyc because I can't even afford to rent out a room... at least I have a roof over my head still
ThaWhiteRanger
I just applied for a one bedroom in Puyallup, which is about 40-50 mins south of Seattle where I work. $1600. I thought that was a steal.
TheS4ndm4n
*laughs in €400 mortgage for a 2 bedroom in a big Dutch city.
MagosDotarius
My wife and I have $700 mortgage for our 3 bedroom house, but 1 room apts. round here are like $1k
Boksha
Congrats on buying your house 10 years ago!
TheS4ndm4n
4 years ago. But ya... Would cost €600 if you buy today. Still not as bad.
Daruha
I got my first job in high school in 2003 and min wage was $5.35. You can make arguments with valid points for serious debate but lying...
DrZangariSlifkin
I came to say the same, I had a job (in PA) making $5.50 in 2004… doesn’t change the point, but at least use real numbers
Daruha
On easily verifiable facts, means your not interested in a serious conversation.
LAMovieDesign
Here’s a serious fact: minimum wage has not kept up with inflation or production. If it did, it would be over $20. Go sit back at kids table
williamrichards
"Lying is justified because my stance is morally correct" is a helluva slippery slope.
LAMovieDesign
What I said is easily verifiable if you take 30 seconds out of your life. Ok, back to the kids table you go...
Danxiety
Was this job in Philadelphia?
Saric92
It was $5.15 in 2003 in Penn. but this image is still about Fed min. wage, either way, the data is wrong
Saric92
The point is still valid, but they should probably make sure the data they're referencing is correct before trying to debate
Othernate
Looks like you're correct: https://fred.stlouisfed.org/series/STTMINWGPA
AnAverageAverageGuy
Even if you raise minimum wage, the situation could be the same in 20 years. Perhaps it should adjust to inflation to keep up with the times
MegaDeuce
Then you'd have a positive feedback loop.
Radver
Thats literally what i tell people on both sides of the argument.
Kabe59
We have that in México. Everyone thinks the official inflation is underreported, but at least we have that adjustment
FoamingToad
Yep. Or maybe, post covid and WFH, there's an opportunity to implement rent controls. Not a panacea, but could help. Good luck guys.
JayEnfield
Canadian here. It baffles me just how many things in the US operate on a raw nominal value without factoring inflation at all.
MegaDeuce
We once had a town that legally set pi = 3. We're bad at math, ya'll.
JayEnfield
I mean... Pi isn't subject to inflation though...
gamesfreak26
They adjust minimum wage every year due to inflation in Australia. It's about $20.50 here.
bldrgn
COLE cost of living expenses. Used to be a thing when companies took care of their employees. That was the lie my generation believed.
aflarge
A flat minimum doesn't really make sense for that. We need a system that ties lowest wage to highest, including bonuses in the calculation
aflarge
This way you don't strangle the struggling small businesses, and everyone who helped bake the pie gets their fair piece.
Distractedlurker
Minimum wage was raised every one/two years for the first forty years it existed. I am 43 and it has only been raised once in my life
AnAverageAverageGuy
I would hope for a mechanic that would never have to be raised by a government decision, but would rise based on the market.
forg0tton
Like it did before Reagan stopped it in the 80s
VaultGirl69
Yes! The economy requires all parties to function. No one needs fucking trillions of dollars. We've been sucked dry and asked for more.
nuttybutniceguy
Caps on profit margins would be a big help.
YouNeedAJacketAndImLowOnGas
And caps on rent prices. There no reason an apt needs to cost thousands of dollars. Affordable living options!
nuttybutniceguy
Agreed. Rent sure as hell shouldn't go up every year just because you're living there longer. Nothing has changed. If anything, it's older.
clem573
The official name of minimum wage in French is « minimum salary indexed on growth » and is revised every year. Lucky us for many things
WillowFox
Same here in Argentina. We kinda copypasted the French laws and stuff. And pikets. So many pikets when we get mad.
TroubledGeometry
Support ce bâtard magnéfique! Prennez mon upvote.
Exquisitine
I've been wondering for years why we don't do that here
ShowMeThemCatsFella
Thinking of the billionaires too much
Avlaen
Because america is a shit hole that only cares about the 1%
HideYoKittiesHideYoPuppies
We dont like to solve problems permanently...only temporarily
OperationRustysBlanket
Because the French people seem way better at protesting for that stuff
MrFenixx
they did use very effective tools for their protests in the past
muchLongerUsername
HogWashDiddler
Im all for raising the min wage. But i dont think that alone will make much of a difference. Raise the min wage while also taking steps...
sigurd768
Nope, it will make a big difference. Sorry, you’re just wrong on this one.
NikaroIteya
I feel the big corps would still just raise their side of we did this. We need to fix that before any minum wage raise
maxstout808
Apples and oranges. Collective bargaining for corps., ballot box for min. wage. If all else fails, mass activism.
pontiacbandit
No we don't. Put money in people's pockets. Do things instead of endlessly trying to find the one silver bullet (there isn't one)
NikaroIteya
If we keep putting money into people's pockets and allow the big corps increase their products price. will just cause our cash be worth less
NikaroIteya
Once we stop the big corps having the ability to jack up prices of stuff we need 1/2
NikaroIteya
Such as insulin which is 8.9 times more expensive than what it is in the UK. I wouldn't be surprised if popped up higher afterwards
HogWashDiddler
To lower cost of living. Let the two meet in the middle.
Sizzlord
We definitely need to push one or the other in a better direction.
theycallmebuttfarticus
I concur
KingKelloggTheWaffleHaggler
Thai we can't just raise minimum wage. Owners will raise crap too, we have to make steps to lower cost of living
Dondarian
One could argue that regulations on capitalism are a good thing. And by that, I mean that's absolutely what needs to happen.
ethannguyen357
Lowering cost of living is not the solution. A 2% annual inflation is considered healthy for an economy. The solution is to raise the 1/?
ethannguyen357
Quality of living for the masses. Too much money is spent on yachts, private jets and golden toilets. With the money spent on 1 private 2/?
ethannguyen357
Jet you could finance 100 homes for people, buy an entire town cars, or feed a million people for a day. The problem is not that things 3/4
ethannguyen357
Cost too much money, it's that too much of the money is in too few hands, and the only way to fix it is through taxes.
angrytaco
If the min wage had kept pace with economic growth like it used to, min wage would he over 20$ an hour. Cost of living would be manageable
HogWashDiddler
Im not disagreeing. But that unfortunately didnt happen, and i think now we are in a situation that the only way to improve it is to...
HogWashDiddler
Attack it from multiple angles.
SlackerTactical
A temporal pincer....we live in a twilight world
angrytaco
Yeah I'm not sure how we can lower the cost of living in general, that seems like a far more complex solution than just raising min wage
BreathBeStank
Wealth needs to be redistributed. Raising minimum wage will do that to some degree but we need to make sure it's not coming from the wrong
SupernaturalReactions
thingamagick
How the hell do you suppose we lower cost of living?
cmachamood
Unrealistic thought. But sure would help if some companies weren't all making the same 12 competing products. Raw mats cost would decrease.
ClayBones548
Regulating artificial inflation would be good. Real estate is a particularly egregious example.
WeAreJustDustInTheWind
tell rich people that they can't make money off housing the same rich people that bribe govt to not do this
ButtholeButts
1. Stop speculative real estate buying. Set rising tax penalties for leaving buildings vacant. Bring the real estate market back to sanity.
ButtholeButts
2. Maximum amounts that rent can be raised year by year, modified by construction, maintenance, taxes & inflation.
ButtholeButts
3. Progressive tax rates based on number of properties owned / units leased per property.
storebrandproductmascot
Government subsidies on necessities, I'd guess. Government housing for the lower middle class. Lots of things.
thingamagick
Which would lead to higher taxes. I'm not sure that would fix it.
storebrandproductmascot
But you can split the tax among those who can actually afford to pay it. Plus the low income people will be able to afford to pay more taxes
ikbeneengeit
(All other countries in the world) It would