3 ms·
> in silicon valley rent definitely raised 2-3 times in last 15 years, but blue color workers didn't receive equal raise in wages. Source? In the last 15 years
by verteu 2y ago
> in silicon valley rent definitely raised 2-3 times in last 15 years, but blue color workers didn't receive equal raise in wages.
Source? In the last 15 years, SF median rent went up 78% and SF minimum wage went up 93% [1] [2], so it seems quite likely blue color wages outpaced inflation.
I notice a worrying trend where people invent negative economic stats instead of looking at the real numbers [3].
[1] https://fred.stlouisfed.org/series/CUURA422SEHA https://fred.stlouisfed.org/series/CUURA422SEHA
[2] https://www.sf.gov/sites/default/files/2023-02/Historical%20San%20Francisco%20Minimum%20Wage%20Rates.pdf https://www.sf.gov/sites/default/files/2023-02/Historical%20...
[3] https://en.wikipedia.org/wiki/Vibecession https://en.wikipedia.org/wiki/Vibecession
- riku_iki 2y agoI know the price of specific apartments. 2br went up from 1600 to 3200-3800(depending on month price varies), and many blue color workers who used to live there moved from that complex. > SF median rent your graph shows not SF (which is actually not silicon valley) but SF-Oakland metropolitan area. SF rent likely raised more than that. > SF minimum wage went up 93% Min wage is an outlier, they couldn't afford rent then and now. Another factor is taxes, while wages increased, wages after taxes increased slower, because pushed income to another bracket.
- verteu 2y agoIt's impossible to have a serious discussion on (rent/income) trends if your only source is an ancedote about a single (unnamed) apartment's price. (And you include no data on wages at all.)