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I mean, I'm a Housing Theory of Everything guy, so, yea, the high minimum wage here is just part of the over all inflation spiral that is being fueled by the fa

by scoofy 1y ago

I mean, I'm a Housing Theory of Everything guy, so, yea, the high minimum wage here is just part of the over all inflation spiral that is being fueled by the fact that there isn't enough housing for the people who want to live here, in places people want to live. It makes sense that we'd end up with more employees making these higher wages, because it's an inflationary spiral, not a supply-demand issue. It's just the effects of everyone here trying to address this inflation for folks at the lower end of the earning spectrum, but without actually addressing the underlying issue (god forbid we allow multifamily housing next to major transit corridors), which is obviously the massive inflation in housing costs caused by the massive, near-statewide shortage.

axiolite 1y ago
> the high minimum wage here is just part of the over all inflation spiral Inflation in the west is lower than the rest of the country: https://www.visualcapitalist.com/mapped-annual-inflation-rate-by-u-s-region/ https://www.visualcapitalist.com/mapped-annual-inflation-rat... Even going by CPI, inflation in California is lower than Texas, Florida, Alabama, etc. https://www.usatoday.com/story/money/2024/04/09/states-highest-lowest-inflation/73184932007/ https://www.usatoday.com/story/money/2024/04/09/states-highe... I agree with you that restrictions on new housing is a big problem, but it is NOT just a California problem.
- scoofy 1y ago
  Looking at the quarterly inflation rate makes little sense when discussing the cost inflation over the last decade and a half.
  - axiolite 1y ago
    By all means, point us to your sources that show California's inflation is much worse than all other US states, "over the last decade and a half".
    - scoofy 1y ago
      https://fred.stlouisfed.org/series/CUURA422SA0 https://fred.stlouisfed.org/series/CUURA422SA0 37% increase in the last decade vs about 34% in all urban areas. I see your point. https://fred.stlouisfed.org/series/CPIAUCSL https://fred.stlouisfed.org/series/CPIAUCSL

by scoofy 1y ago

axiolite 1y ago

> the high minimum wage here is just part of the over all inflation spiral Inflation in the west is lower than the rest of the country: https://www.visualcapitalist.com/mapped-annual-inflation-rate-by-u-s-region/ https://www.visualcapitalist.com/mapped-annual-inflation-rat... Even going by CPI, inflation in California is lower than Texas, Florida, Alabama, etc. https://www.usatoday.com/story/money/2024/04/09/states-highest-lowest-inflation/73184932007/ https://www.usatoday.com/story/money/2024/04/09/states-highe... I agree with you that restrictions on new housing is a big problem, but it is NOT just a California problem.

scoofy 1y ago
Looking at the quarterly inflation rate makes little sense when discussing the cost inflation over the last decade and a half.
- axiolite 1y ago
  By all means, point us to your sources that show California's inflation is much worse than all other US states, "over the last decade and a half".
  - scoofy 1y ago
    https://fred.stlouisfed.org/series/CUURA422SA0 https://fred.stlouisfed.org/series/CUURA422SA0 37% increase in the last decade vs about 34% in all urban areas. I see your point. https://fred.stlouisfed.org/series/CPIAUCSL https://fred.stlouisfed.org/series/CPIAUCSL