3 ms·

Source for that claim? Minimum wage has been $4-10/hr (inflation adjusted) throughout its history in USA; only about as high for the single-person poverty leve

Source for that claim? Minimum wage has been $4-10/hr (inflation adjusted) throughout its history in USA; only about as high for the single-person poverty level ($6/hr for single, $10/hr equivalent for a family of 3) https://bebusinessed.com/history/history-of-minimum-wage/ https://bebusinessed.com/history/history-of-minimum-wage/

monocasa 8y ago
Rent and home values have gone up far faster.
- cheald 8y ago
  So has the size of living spaces and the space allocation per person. https://247wallst.com/special-report/2016/05/25/the-size-of-a-home-the-year-you-were-born/3/ https://247wallst.com/special-report/2016/05/25/the-size-of-... That article puts the average living space sq ft/person at 233 sq ft (959 sq ft/home) in 1938, 387 sq ft/person (avg 1,289 sq ft/home) in 1960, and at 1,046 sq ft (2,657 sq ft/home) today. That is, since 1960, the average house size has risen 106%, while real rent has risen by 64% (https://www.apartmentlist.com/rentonomics/rent-growth-since-1960/ https://www.apartmentlist.com/rentonomics/rent-growth-since-...) since 1960. This would seem to suggest that today's real dollar buys more living space than real dollars past did, but that we're also demanding larger and larger housing. This is small comfort to the low-income earner looking for housing, of course, but it's nonsensical to expect real housing prices to remain static while the living space allocated to each home grows.
  - droidist2 8y ago
    I don't want a big space though, I just want it within an hour commute of my job. Who decided we wanted a few bigger spaces instead of more abundant smaller spaces?
    - philipkglass 8y ago
      When I bought my house 11 years ago, I could get an older small house or a 21st century house that was too big. I wanted a detached house but I don't need surplus space and I certainly don't want to deal with extra heating/cooling/cleaning/maintenance on that unneeded space. This was in an affordable mid-size town away from the coasts. I ended up buying a small house that was built in the 1940s. I still wish I could have got something with modern wiring and no lead paint, but the same compact size. I can't tell if people are really demanding larger homes over time (per cheald above) or if people who aren't custom-building are forced to pick from a size range that has offered fewer small houses over time.
      - droidist2 8y ago
        Interesting. My theory is that as the exurbs developed and people moved further away from the cities, home sizes got bigger. For instance if you drive 2 hours outside New York you can find huge 3 story houses that cost much less than a tiny house with a tiny yard in the older bedroom communities closer to the city. But then you have a terribly long commute and as you said crazy amounts of upkeep. I think millennials saw their parents dealing with this and they value living closer to the city.

monocasa 8y ago

Rent and home values have gone up far faster.

cheald 8y ago
So has the size of living spaces and the space allocation per person. https://247wallst.com/special-report/2016/05/25/the-size-of-a-home-the-year-you-were-born/3/ https://247wallst.com/special-report/2016/05/25/the-size-of-... That article puts the average living space sq ft/person at 233 sq ft (959 sq ft/home) in 1938, 387 sq ft/person (avg 1,289 sq ft/home) in 1960, and at 1,046 sq ft (2,657 sq ft/home) today. That is, since 1960, the average house size has risen 106%, while real rent has risen by 64% (https://www.apartmentlist.com/rentonomics/rent-growth-since-1960/ https://www.apartmentlist.com/rentonomics/rent-growth-since-...) since 1960. This would seem to suggest that today's real dollar buys more living space than real dollars past did, but that we're also demanding larger and larger housing. This is small comfort to the low-income earner looking for housing, of course, but it's nonsensical to expect real housing prices to remain static while the living space allocated to each home grows.
- droidist2 8y ago
  I don't want a big space though, I just want it within an hour commute of my job. Who decided we wanted a few bigger spaces instead of more abundant smaller spaces?
  - philipkglass 8y ago
    When I bought my house 11 years ago, I could get an older small house or a 21st century house that was too big. I wanted a detached house but I don't need surplus space and I certainly don't want to deal with extra heating/cooling/cleaning/maintenance on that unneeded space. This was in an affordable mid-size town away from the coasts. I ended up buying a small house that was built in the 1940s. I still wish I could have got something with modern wiring and no lead paint, but the same compact size. I can't tell if people are really demanding larger homes over time (per cheald above) or if people who aren't custom-building are forced to pick from a size range that has offered fewer small houses over time.
    - droidist2 8y ago
      Interesting. My theory is that as the exurbs developed and people moved further away from the cities, home sizes got bigger. For instance if you drive 2 hours outside New York you can find huge 3 story houses that cost much less than a tiny house with a tiny yard in the older bedroom communities closer to the city. But then you have a terribly long commute and as you said crazy amounts of upkeep. I think millennials saw their parents dealing with this and they value living closer to the city.