Minimum wage workers cannot afford to rent a two-bedroom (or one-bedroom) apartment

714562

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Minimum wage workers can't afford to rent a 2-bedroom home

Minimum wage workers would have to earn three times the federal wage to rent a modest two-bedroom home anywhere in the country, according to a new report from the National Low Income Housing Coalition.

Workers would need $21.21 per hour to rent a two-bedroom home, and $17.14 for a one-bedroom. On average, renters earn $16.38 across the country, while the mandated federal minimum wage sits at $7.25.

The gap between income and rent is widening. Average income went down by 4%, while rent increased by 6% between 2007 and 2015, Washington Post reports.

Why this matters: Around 11.2 million families spend the majority of their paychecks on rent, and currently only one of every four is eligible for public subsidies. Under President Trump's budget plan, federal funding to the Department of Housing and Urban Development will be slashed by $6.2 billion — significantly reducing housing assitance programs and those programs aimed at helping lower-wage employees.

As a caveat, they keep using the phrase "modest two-bedroom home." I don't know what "modest" means. But their baseline for modesty is probably not too extravagant b/c an hourly wage of $17.14 means an annual salary of $35,651.20, assuming a 40-hour workweek.

That's not much at all.
 

714562

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They can build a modest cardboard tent outside, save the rent money and invest it in the stock market or in starting a business that adds value to society. :ehh:

I wish there was a smiley to adequately represent posts like this, but I can't think who would be a proper avatar.
 

JahFocus CS

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Jay Kast

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This is how it will continue.

The income gaps between race widens, the gap between annual income and rent widen, the gap between the 1% and the 99% widen.

This is bad. It amazes me how indifferent most people are to these findings, like it won't affect them.

Which leads me to believe that most people here are not supporting themselves 100%, either living with someone, receiving support from family or simply leeching. Eventually the well will run dry.

I am currently in a class with a bunch of 18-20 somethings and it's mind blowing how naive people are about the way things are going. I am literally in survival mode to get my degree and get onto the rising elevator before it's too late.

Eventually more jobs will be outsourced as countries become more developed, population increases in already developed countries such as India will ensure many high paying medical jobs are outsourced.

Technological advances in the far future will mean increased quality of life for everyone, hopefully. But for now? America is struggling to keep up with the governing of its increasingly restless society, it cannot keep pace as technology will progress exponentially, at a completely different rate than laws, policies, and procedures.

I used to tell my best friend all the time, "Dog, you better get a STEM degree in something to do with technology or health, robots (specifically A.I.) gon take everything over". He hasn't made a move yet, I gave up.

The bad thing about it? They'll start at the bottom. Fast food kiosks, automatic warehouse stocking machines (Amazon warehouses), automatic mail sorting, autonomous trucks (18 wheeler type).

I work in a factory that is a leading producer for industrial tool bits, specifically for the train industry. In the last five years, they've laid off an estimated 75% of my department, all of the button pushing machine operators are probably at another shop or in some fast food spot now. They've been replaced with advanced CNC machines that automatically load the part, start the cycle to machine the part, and unload it. All that needs to be done is a visual inspection and slight clean up.

Where do these people end up? Who are these people? You and I, and everyone else that isn't taking the necessary precautions to get higher education that MATTERS.

I told my best friend, I'm telling yall. Sorry for the rant..
 

Uitomy

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As much as I'm glad to live in the south, Florida specifically, because rent isn't too crazy and being young I don't mind living with my friends and splitting rent or living with family and stacking, I also think about if shyt goes too far left and everybody moves to this region how shyt here is gonna increase too much too
 

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As much as I'm glad to live in the south, Florida specifically, because rent isn't too crazy and being young I don't mind living with my friends and splitting rent or living with family and stacking, I also think about if shyt goes too far left and everybody moves to this region how shyt here is gonna increase too much too
I mean we're already seeing these trends. Peeps from NY moving to LA. People from LA moving to the bonnies of Lancaster,Palmdale. People from the bay are moving to Sacramento,Portland and Seattle. People from Chicago are moving to Dallas / Houston / Austin. And rents are raising with them, leaving people(originally locals) priced out.
 
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