Maybe inflation has something to do with housing supply. But what do I know?
A recent report highlighted the ongoing debate surrounding the minimum wage in California.
The state recently introduced a $20 minimum wage.
Sice 2019, U.S. rents have grown 30.4%, while wages have grown 20.2%. Rents have outpaced wages in 44 of the 50 largest U.S. metro areas, per Zillow.
— unusual_whales (@unusual_whales) May 17, 2024
Variable depending on the location.
I don't think rents and food prices went up as much in expensive places like NY / SF as they did in traditionally more affordable places.
US Rents Climbed 1.5 Times Faster Than Wages in Last Four Years pic.twitter.com/JCQZSsU1UQ
— NoriNY 🐘🐼🐨🐻🐰🐣 (@Nori_NYC) May 8, 2024
Stubbornly High Rents Prevent Fed From Taming Inflation
US household expectations about the change in the cost of rent have risen sharply from last year, with rental costs expected to increase by 1.5 percentage points to 9.7% for the next year, according to a survey by the NY… https://t.co/QGZ80So8Rb pic.twitter.com/urUAvwXsa3
— Prodigal (@ProdigalThe3rd) May 12, 2024