3 ms·

that’s interesting, i’m still very curious especially in smaller markets, that if you raise the minimum wage to $15 an hour, why would a rental company for exam

that’s interesting, i’m still very curious especially in smaller markets, that if you raise the minimum wage to $15 an hour, why would a rental company for example, not raise the price of their apartments to take advantage of the increased income of the residents? There’s no law against it. They could make the argument that because of the increase in minimum wage, their costs have gone up, so they are raising everyone’s rent by 30%. So now your rent is instead of $900 its $1170. While your income went “up” so did costs, that’s leaving you back to where you started as if you never got an increase in minimum wage to begin with. To me this just makes economic sense. If there’s more cash in the system, raise prices to take advantage of that cash, especially if it’s food, housing, auto repair whatever that you really can’t go without.

aidenn0 5y ago
> that’s interesting, i’m still very curious especially in smaller markets, that if you raise the minimum wage to $15 an hour, why would a rental company for example, not raise the price of their apartments to take advantage of the increased income of the residents? There’s no law against it. They could make the argument that because of the increase in minimum wage, their costs have gone up, so they are raising everyone’s rent by 30%. So now your rent is instead of $900 its $1170. While your income went “up” so did costs, that’s leaving you back to where you started as if you never got an increase in minimum wage to begin with. Because if they do that, you will move to an apartment that only raises the rent by 15%.