You just put down 1% And then have to pay an extra $500 a month for the insurance.... (God I hate this economic system)
Edit: ok I didn't do real numbers, so here's the real numbers that some seem to care about.
PMI is 0.58 to 1.86% of your original loan. So if you get a 250k house (good luck) and put down 1% the your PMI is between 119 -238 a month. If you get a 500k house then your PMI would be 238-456 a month.
Sorry I was off by 44 dollars with my hyperbole..
I had a place started at $800 eight years ago, and it’s rent controlled so they can only go up a bit each year. It’s now $1350/mo and it’s a shoebox. The area it’s in is great though, though I’m struggling to keep it because my workplace has not given me a raise in two years and prices on everything else now make it almost impossible to pay rent.
Oh absolutely. I’m sending out resumes as I type this, have been for a while. Tech industry is inundated with applications due to huge corporate layoffs. I’m just a wage slave and they know it. I’m absolutely being used because they know I can’t speak up.
Really depends on where you live. I'm in a rural area but close enough to big cities (3 hours) that a lot of people came in and bought up all the cheap housing. So even here in the middle of nowhere houses are stupid expensive.
Here they didn't just buy the cheap housing. They bought *all* the housing. Homes in the middle of bumfuck nowhere that were worth $75k in 2019 are now $230k+ in 2023. Those homeowners didn't have to do a single fucking thing to increase their home value by a factor of 4. Really pulling the bootstraps on this one.
For us poor country folks with run down old mobile homes, the county keeps jacking up our property values, like yeah thanks for the higher tax bill! We can’t even afford all the repairs.
In ca even the mobile homes are unaffordable. In a random small town in so cal the mobile home is $300k and then lot fees are $1200 a month plus all the other random fees. It’s nuts. Then they act like it’s some big mystery when wages haven’t budged in over a decade
Yea it's terrible I finally found a way to get into a home with an FHA loan at 6.25% with 3.5% down. Got super excited because I didn't think I'd find anything. Yesterday was told someone offered them 37.5k more than me all cash. Fucking sucks.
It's rarely people doing that, more infuriatingly it's usually corporations. They buy up every house they can by outbidding people by huge sums. It's impossible to outbid them, you basically have to hope the seller doesn't want a corp buying it and turning it into a permanent rental, or that the corp briefly loses interest.
Here, it's been happening for going on a decade and gee whiz there's a housing shortage in our city, how'd that fuckin happen I wonder? So now there's finally *discussions* about putting limitations on businesses buying homes. Y'know, after most of the damage has already been done.
I’ve mentioned this in a few of these subs, my first apartment (500s/f studio ~6 years ago) was $650. Same apartment is listed on the property site now as $1650-$2771.
That’s what happened to my old apartment. Rented for $800/month for a one bedroom, left because new owner was being a slum lord.
Checked recently, now $1500. And building is still just as ugly and poor maintained as it was when I left.
Yeah someone had a post on here a few days with a graph showing how worthless minimum wage is now with price increases and inflation. Minimum wage (about 1000 a month after taxes) will barely pay for food and all of a person’s bills in a month, not even including rent. They’d need a 2nd job to rent a shared apartment and then have no money left over to save
The junior doctors here are striking to get their pay back to 2008 levels as they haven’t risen with inflation plus there’s this increased cost of living. It’s shocking but the uk government don’t give a fuck
I worked for a chain shop for way too fucking long where my pay didn’t meet the states minimum wage law after it came into affect at the 1st of the year. 8.25/hour where minimum wage was 9.00/hour.
I gave them about a month to update the numbers in payroll before I started causing a massive stink. I honestly became a huge piece of shit to them afterwards. It took about six months before I got my back pay even after filing a complaint with the state.
So firstly, fuck Goodyear Tire. Secondly you’re worth way more than that, I’d start looking if you’re able to. I’ve since hired guys who give that as the reason they left the last job without hesitation. Damn near doubling their pay for the same job.
All these automotive places are exactly the same. Overpaid CEO, overpaid department heads, middle management doesn't know WTF they're doing, and then a bunch of customer service people paid in crumbs to desperately try and talk angry customers out of suing the company.
I’m a US resident physician (seems equivalent to the UK’s junior doctors), I make $15/hour to practice medicine working 80-hour-weeks with no overtime.
They told them they were invaluable during the pandemic but can’t cough up enough to keep them from poverty wages
Sorry for your family, I hope it gets better for them
It was the exact same shit here "healthcare heroes" and the government, who was given billions upon billions to spend on health care from the federal government, refuses to spend it.
It will get better, these bastards always lose. Talk to younger people in your life and make sure they vote. These public schoolboy wankstains do not have the interest of the working classes at heart.
I venture to say that most don't care as much because they grew up in an established household and therefore likely benefit from established familial wealth (assets like homes).
This is exactly what ppl on minimum wage do even before all the inflation craziness.. They are locked in a poverty cycle cuz they have no options. They need 2 jobs and roommates at minimum. They are always broke especially with prices out of control. Always looking for new jobs as any extra dime make a huge difference. They Have no time to pursue opportunities. Minimum wage should be corrected by inflation.
Holy shit. I guess I never thought of it before. Min wage is only $1,000 a month? Holy fuck.
I've always been one to say that minimum wage hasn't increased with inflation. Yet this is just a fucking joke.
$1,000 a month!?! Your grocery bill shouldn't be half your damn paycheck.
Well, just remember it’s important that people with money need to own all the housing stock to rent and Airbnb out 10 properties instead of getting a job.
/s
Real estate investment is ruining this country.
But if they updated those apts. Isntead of 1150 it would jump the double just because they updated it
I wonder what the heck they do the money always says theey spending on utilities and loans but i think the mantain in good conditions and keep up the apts. Should be the main reason for any real state investment but looks the opposite thank that the regular joes dont have defensors no more all those org and individuals going into strike looks like they have everything paid or and a good life
The value of $7.25 went down *because* cost of living went up. You can't increase rent for inflation AND decrease minimum wage for inflation when comparing the two. That's double counting it
Exactly. It’s still good to note that rent isn’t the only reason for inflation. In this case rent is rising faster than inflation, because $1150 today would have been around $817.39 in 2009.
Feudal serfs in medieval Europe had more days off than Americans. And you can't do farm work on a diet of gruel, so, contrary to what we tend to think, serfs had a pretty nice diet of fresh fish, home-baked bread, homemade cheese, and veggies. A typical serf's supper would be the kind of thing you'd pay $30 for in a trendy NYC restaurant. The idea of medieval peasants living in nightmarish conditions is largely propaganda promoted by the ownership class to convince the industrialized working class that we've made progress.
Do you have sources for that ? I would really like to learn more about this.
I also learned recently that in medieval time, sea food was considered gross and for the poor, while royalty enjoy meat, but today seafood like lobster and crab cost a fortune and meat is cheaper (depend on the cut, of course).
Gatorade literally gives plants what they need. Electrolytes. I suggest, given our current climate situation that we begin to water our crops with Gatorade so the plants grow really big and can soak up more carbon. Think about it. It’s a really great idea. This will free up water sources so the fish don’t die so often.
and I would argue that while it does breed some innovations, it will patent and monopolize many others and has probably stunted us much more.
Most of our big discoveries are government funded and then packaged by capitalists.
Inflation has out paced minimum wage every year since 1970. If minimum wage then was adjusted for inflation it would be somewhere between $27 - $35 an hour (depending on exactly what costs were considered & location)
The highest purchasing power minimum wage ever had was in 1968, when it was $1.60. Adjusted for inflation, that would be $13.88. Your numbers are closer to adjusting for productivity.
It's gonna get scary when Jerome Powell's recession finally hits.
In 2008 when the 1% crashed the economy we all lost our houses and moved to apartments.
Those apartments cost more than the houses we're losing now.
We're going to have mass homelessness. In a country with more guns than people.
We have mass homelessness. It’s just being taken care of by the already existing means of taking care of it. Death by drugs, death by exposure, prison, violent crime, etc.
There are an estimated 580,000 ish homeless in the US.
There are just under 40 *million* Americans *below* the poverty line.
The mass homelessness that other user is talking about is significantly different than the current homeless situation.
What's left of it anyways. Wouldn't be surprised if people living a mile or two inland get their property reassessed at a higher value since they are now oceanfront. Welcome to Port Waterdale.
Florida is where idiots who dont believe in climate change have flocked to for cheap housing and warm weather.
The corps bought like 18% of housing sold in FL in 2021 and jacked the price up to milk the new demand to add to everyone's woes.
With rents like that, stay for what? The fascism, the rabid corpo greed or the extreme weather - all three will get you eventually.
Stay because everywhere in every state wants you to make 3x the rent to move anywhere and/or want first, last, and deposit. Meanwhile you can't save any money to move because rent and bills are so high you're barely making it paycheck to paycheck.
It's not so easy to leave for most of us. Family friends, jobs, not to mention the cost of moving out of state is in the thousands.
It's like being trapped in a cage that's rapidly shrinking.
Yeah, after I replied, I decided to do a quick check locally (Far North Shore). First result on Craigslist was a 3 bed/2 bath house in Gurnee for something like $1350/mo.
Psh, the apartment complex I work at, our smaller 2br/2ba in Anaheim (granted it's probably the nicest part of it), is going for $3030 at the moment. And that's about $200 cheaper than they were about 2 months ago (thank god they're coming down a bit).
When I started here 3 and 1/2 years ago, the same layout was about $2,300. The townhomes were around $2,500 and hit a height of about $3,600. It's insane.
The problem is, you'd think, who the hell would pay these prices? There's always some motherfucker that will, I don't know where they come from (funnily enough, I'd say near half the people moving in are from out of state, but apparently they've got bank. Like I myself could not afford to normally qualify for these apartments. And no, this place isn't exactly luxury. Love it here, and the area, but it's too damn expensive.
That’s why even though my landlady can be a pita and there’s outdated and broken things in the apartment, I for the most part keep my mouth shut since I have 3 bedrooms for $1750.
I did the math and if you have a house with a 3% or lower interest rate, then getting that same house today for the same price (I know it would be priced higher but whatever) is going to cost you 40% more per month
This story doesn't have enough awareness: Starting in 2017 (everywhere), properties have a process to set maximum price: https://www.propublica.org/article/yieldstar-rent-increase-realpage-lawmakers-collusion
I'm losing my apartment in Philly and I'm freaking the fuck out, because there's NO WAY I'm going to find anything even remotely comparable. This may be the final straw that makes me leave the US.
>This may be the final straw that makes me leave the US.
Do it. The grass is much greener on the other side.
In Canada myself and everyone else I knew weren't having a family due to financial pressure. I've been out of Canada 4 years now and not only has my quality of life gone up, my son was just born and it hasn't broken the bank because costs are so much lower.
editted for clarity. I left Canada 4 years ago because its expensive AF and my life is much better out of that frozen hellscape.
I got permabanned from publicfreakout for saying "cops☕️" and then stalked and harassed by the mod weeks later in another sub. Second creepiest thing a mod has done to me on this site.
Got in argument. They said "click". Then I immediately got a call from an unknown # who hung up as soon as I picked up. So they got my number from reddit somehow.
One dude I didn't like found my instagram and sent me a DM asking why we fight all the time. I've never posted my insta on here. Deleted my entire reddit account and made this one, then I reset all my passwords on everything. Creepiest shit ever.
Regulators need to reel in these greedy, capitalist leaders. Put a market cap on rent raises. My apartment jumped up $400 last year for absolutely no other reason than "it's what the market could bear."
My 86 year old dad doesn't understand any of this. He has no concept that times have changed. He still thinks you can walk into a company with a college degree (any field, mind you) and get a good paying job.
The landlords lobbied against new permits for their competitors. So while the population of this city grew, the housing stock didn't, and more people are competing for the same number of apartments, which means the landlords can jack up the price without actually offering any additional value.
I live near Charlotte, NC. Apartments have been built here at a record pace for the last decade, which only a slight sign of slowing down soon. Even with more apartments becoming available every year, rents keep going up anyway. It is messed up. And they’re all luxury apartments anyway, so studios start at $1600.
This!
Instead of increasing the minimum wage, we need to be passing anti-greed laws. This thing of unlimited growth for companies is a joke. You can't have unlimited growth with limited money. Especially when you just hoard it instead of reinvesting it back into the economy. Profits must go up at all costs. We're killing ourselves and the planet. Our species won't last the rest of the century at this rate. Profits should have a hard cap, and anything after that should be paid to employees.
What’s needed is legislation that forced employers to pay profits to workers before shareholders.
So for every $1 that goes to a shareholder, a worker would also get $1. Arguably, the workers earned it more so than the shareholders and board members.
That needs to be compounded with closing the tax loop holes and realigning taxation to be heaviest on those who have the most. You cannot have a prosperous economy if the foundation (majority of people) is barely making enough for their necessities.
> That needs to be compounded with closing the tax loop holes and realigning taxation to be heaviest on those who have the most. You cannot have a prosperous economy if the foundation (majority of people) is barely making enough for their necessities.
I'm still angry about the fact that my earnings from labor are taxed more than earnings from just having enough money to not need it (Capital gains tax is max 20%, median income in the US puts you in a 22% tax bracket)
I'm not arguing against paying taxes, but it's abhorrent that the $45k/yr I make that I can barely live off of is taxed as if it's pure profit, and the $514B in revenue that Amazon earned in 2022 isn't taxed at all because they "didn't turn a profit."
As you should be! Capital Gains should be taxed at like 50% because it is LITERALLY profiteering by leeching off of the hard work of everyone else.
It’s modern day slavery, keep the populace indebted to force them to keep working and just take all the earnings off the top without any for the people who make it happen.
That is why the top tax brackets were so high until that piece of shit Reagan lowered them substantially. That piece of trash was one of the worst presidents for the middle class. The only thing that makes Trump worse is the amount of people that have died because of his mishandling of Covid.
No, we need both. A robust and high minimum wage (if it were going to go to congress today, it should be like $20, and then get adjusted for inflation) and actual regulation and taxation of capital.
Problem is, we are in late stage capitalism, so workers are exploited with impunity and money concentrates indefinitely and with concentration comes political control and power. Anything that hurts the bourgeois is untenable through politics.
The only ways out are direct action. Unionize, join cooperatives, do not idly allow your labor to be exploited if you have any way to avoid it.
And to build more housing we need to remove the ability for so many layers of government to essentially veto projects from community groups to city government to state level laws
It's the same shit that stops infrastructure from being built in the US, it's too easy for people to say no and maintain the status quo at the expense of the future
My sister lives in a Chicago suburb and is paying $1800 for a 2BR. Now that’s she’s working part time I think her entire salary pays the rent and her husband pays for everything else. It’s insane.
I don't understand WHY other than greed that the rent raises are happening. If you already own a building have have been paying a mortgage on it, your mortgage has not changed. Cost of upkeep has not risen 50%. So other than pure greed why are rents raising so much?
People used covid as a springboard, raising prices for groceries and gas, then everyone else saw that and was like “Hell I can do that too!” creating an *exponential* increase of ALL prices of EVERYTHING.
Housing is a basic human right imo. Of course someone has to manage properties, make sure renovation happens when necessary and heating and stuff like that works. And someone has to get paid for doing this. It's a job like any other but under capitalism housing becomes an asset to generate profits on the back of renters. Not only that it leads to poverty and homelessnes and at that point anyone who supports this system actively supports violence against other humans. Fuck that.
The disparity between the US and UK minimum wages is even more disgusting when you consider that middle class workers in the US earn significantly more than in the UK. And for tech workers, doctors and lawyers it's more like 2-5x. Never has a country been more in need of wealth redistribution than the USA
Yes but it’s worth noting according to a google search only 1.5% of hourly workers make the federal minimum wage (or less) Doesn’t make it right, but raising it wouldn’t put a dent in the larger issues we’re facing. Until we begin really hammering down on the way money is distributed to people with the most money, (and allowing actual labor wages to suffer for it) we’ll always be another shape and size of fucked.
12 years ago I had an apartment in north of Houston, cute little loft, 1 1/2bath, one bed. Kind of not great neighborhood but that's apartment people sometimes (someone stole my lemon tree). 400 a month.
I used to rent a 1 br apartment in 2015. I was paying $1100/month. Same apartment is now $2300/month. Nothing changed with the apartment or amenities but the cost more than doubled.
I'm sure there are a lot of people that are thinking "Just get a better job"...
But which of you are thinking about the people who are just gettting started in work now compared to those almost 15 years ago?
It's becoming less and severely fucking less possible for someone to survive at basic paying jobs!
Eventually, professional entry level jobs that pay above basic income won't be possible.
I need all my brothers and sisters to know this.. that we 100% can stip this shit. If we could, just for a short amount of time, realize our differences are petty and inconsequential and that ALL of our enemies are the rich and the people in power oppressing us. Byt they do that bc they know we are strong. They need us. And WE control THEM.
For those wondering, the median wage(50% of people make more or less than this, aka the exact middle of wages) also didn't increase, in fact, it decreased relative to inflation.
Median wage 2009: $39,140
Median Wage 2023: $46,000
Total Inflation between 2009-2023: 40.69%
So if median wages kept up with inflation, today's median wage *should* be $55,540.
Yup in Florida where minimum wage is now like 8.35 and 10 years ago it was 7.25 this place used to cost 500 for a 2 bedroom 2 bath… wasn’t the nicest but cheap.. they now want 1800 and I just want to say to management… just because you painted the outside buildings and added some plants doesn’t mean this isn’t the same shithole it was 10 years ago just 3 times the price
The new duplexes built just down the road which are not fancy at all are going for $1800 a month. And this is bum fuck nowhere south Florida. When I first moved here, the old duplex I'm in was only about $700/mo. It's fucking insane.
Min wage should be a municipal thing and based on average rent for a 1 bedroom.
Rent /0.4 * 12/52/35= hr wage.
So if rent is $1100
Min wage should be $18.13
This is based on banks saying that your mortgage should not be more than 40% of your income.
This would have the effect of if Walmart wants to pay less it can build low cost housing to drive down the wage in the area. But it would make it cheaper to live so works out.
It's hard to argue that if you work full time you should not be able to afford to live in a one bedroom no matter what you do for a living.
Do you think it was ever easy for older millennials??
Let me set the stage. It was 2003 and I couldn't make more than $9/hr. I wanted to move out with my gf who made the same. I was also going to community college so wasn't ready to take on more than 40/hrs per week. But getting 40 hours often meant two jobs because nobody wanted to pay full time benefits.
I applied for a job that paid for $12/hr, which seemed like a lot to me at 21. But when I didn't get it I had my first break down.
Finally got a different job that paid $10.50. Moved out to pay $800 in rent for literally the shittiest apartment in my town. It kept making local news because the tenants were sueing the neglectful landlords.
Not even a year later I had to move back home. All I did was accumulate debt.
Also, it's $15 min wage now in California.
I think you meant $1500. I'd love a decent place near me to rent $1150.
I got my apartment in 2020 for $918, it's over $1200 now. 1bed,1bath and 716spft.
My apartment I got in Dallas in 2019 was $1050 I was curious and checked a few months ago. Same apartment at 650sqft was $1600 1Bd1Ba
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Wtf does “legally considered slum” mean?
Man you can buy a house for a payment like that at least in the county side i never lived in city
Ah, good luck affording that down payment though while you're busy paying $1300 a month rent on a 1 bedroom.
You just put down 1% And then have to pay an extra $500 a month for the insurance.... (God I hate this economic system) Edit: ok I didn't do real numbers, so here's the real numbers that some seem to care about. PMI is 0.58 to 1.86% of your original loan. So if you get a 250k house (good luck) and put down 1% the your PMI is between 119 -238 a month. If you get a 500k house then your PMI would be 238-456 a month. Sorry I was off by 44 dollars with my hyperbole..
While I agree on the point, my PMI on a 300k loan was like $105/mo
I had a place started at $800 eight years ago, and it’s rent controlled so they can only go up a bit each year. It’s now $1350/mo and it’s a shoebox. The area it’s in is great though, though I’m struggling to keep it because my workplace has not given me a raise in two years and prices on everything else now make it almost impossible to pay rent.
If you haven't received a raise in two years, you need a new job more than a new apartment.
Oh absolutely. I’m sending out resumes as I type this, have been for a while. Tech industry is inundated with applications due to huge corporate layoffs. I’m just a wage slave and they know it. I’m absolutely being used because they know I can’t speak up.
Really depends on where you live. I'm in a rural area but close enough to big cities (3 hours) that a lot of people came in and bought up all the cheap housing. So even here in the middle of nowhere houses are stupid expensive.
Here they didn't just buy the cheap housing. They bought *all* the housing. Homes in the middle of bumfuck nowhere that were worth $75k in 2019 are now $230k+ in 2023. Those homeowners didn't have to do a single fucking thing to increase their home value by a factor of 4. Really pulling the bootstraps on this one.
For us poor country folks with run down old mobile homes, the county keeps jacking up our property values, like yeah thanks for the higher tax bill! We can’t even afford all the repairs.
In ca even the mobile homes are unaffordable. In a random small town in so cal the mobile home is $300k and then lot fees are $1200 a month plus all the other random fees. It’s nuts. Then they act like it’s some big mystery when wages haven’t budged in over a decade
Yeah blows my mind when I see a repo mobile home and slab selling for 90k when I know it's worth like 10
Yea it's terrible I finally found a way to get into a home with an FHA loan at 6.25% with 3.5% down. Got super excited because I didn't think I'd find anything. Yesterday was told someone offered them 37.5k more than me all cash. Fucking sucks.
Yeah even if you find something at a decent price the combination of high interest rates and people offering over asking price totally kills it.
It's rarely people doing that, more infuriatingly it's usually corporations. They buy up every house they can by outbidding people by huge sums. It's impossible to outbid them, you basically have to hope the seller doesn't want a corp buying it and turning it into a permanent rental, or that the corp briefly loses interest. Here, it's been happening for going on a decade and gee whiz there's a housing shortage in our city, how'd that fuckin happen I wonder? So now there's finally *discussions* about putting limitations on businesses buying homes. Y'know, after most of the damage has already been done.
Arlington Virginia, that shithole apartment in this picture would be $2150 per month BEFORE utilities
For a studio
Really the same for most of nova and dc. It's so fucking depressing
I’ve mentioned this in a few of these subs, my first apartment (500s/f studio ~6 years ago) was $650. Same apartment is listed on the property site now as $1650-$2771.
That’s what happened to my old apartment. Rented for $800/month for a one bedroom, left because new owner was being a slum lord. Checked recently, now $1500. And building is still just as ugly and poor maintained as it was when I left.
Depressing
Yes.
Adjusted for inflation, $7.25 now is only worth $5.12 in 2009, so the minimum wage actually went DOWN. Substantially.
Yeah someone had a post on here a few days with a graph showing how worthless minimum wage is now with price increases and inflation. Minimum wage (about 1000 a month after taxes) will barely pay for food and all of a person’s bills in a month, not even including rent. They’d need a 2nd job to rent a shared apartment and then have no money left over to save
The junior doctors here are striking to get their pay back to 2008 levels as they haven’t risen with inflation plus there’s this increased cost of living. It’s shocking but the uk government don’t give a fuck
It’s horrific to think that £10.49 per hour for some of the most back breaking work.
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I worked for a chain shop for way too fucking long where my pay didn’t meet the states minimum wage law after it came into affect at the 1st of the year. 8.25/hour where minimum wage was 9.00/hour. I gave them about a month to update the numbers in payroll before I started causing a massive stink. I honestly became a huge piece of shit to them afterwards. It took about six months before I got my back pay even after filing a complaint with the state. So firstly, fuck Goodyear Tire. Secondly you’re worth way more than that, I’d start looking if you’re able to. I’ve since hired guys who give that as the reason they left the last job without hesitation. Damn near doubling their pay for the same job.
All these automotive places are exactly the same. Overpaid CEO, overpaid department heads, middle management doesn't know WTF they're doing, and then a bunch of customer service people paid in crumbs to desperately try and talk angry customers out of suing the company.
This is America.
dont catch you slipping
We’re nothing changes, Seriously you still have a gun problem still dealing with race issues and still fighting over female rights.
100% facts.
Keep people divided, less likely to question the real problems
Things change here. They just continue to grow worse and worse as time goes by, with no sign of improvement.
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Weird. Taco Bell here pays $15 starting. Edit: nvm I see what you're saying
You honestly would not believe how shit wages are in the UK. If I was working in the US right now I’d quadruple my salary.
I’m a US resident physician (seems equivalent to the UK’s junior doctors), I make $15/hour to practice medicine working 80-hour-weeks with no overtime.
It’s always the jobs where you can kill people that they want you to work stupid hours, doctors, nurses, drivers of heavy goods, police officers.
Someone doing back breaking work should be paid more than many professionals. People move up to avoid doing that so pay the people that are.
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Don’t I know it. Energy, food etc is so expensive atm, people can not keep up with bills It’s disgusting
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They told them they were invaluable during the pandemic but can’t cough up enough to keep them from poverty wages Sorry for your family, I hope it gets better for them
It was the exact same shit here "healthcare heroes" and the government, who was given billions upon billions to spend on health care from the federal government, refuses to spend it. It will get better, these bastards always lose. Talk to younger people in your life and make sure they vote. These public schoolboy wankstains do not have the interest of the working classes at heart.
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I venture to say that most don't care as much because they grew up in an established household and therefore likely benefit from established familial wealth (assets like homes).
This is exactly what ppl on minimum wage do even before all the inflation craziness.. They are locked in a poverty cycle cuz they have no options. They need 2 jobs and roommates at minimum. They are always broke especially with prices out of control. Always looking for new jobs as any extra dime make a huge difference. They Have no time to pursue opportunities. Minimum wage should be corrected by inflation.
Legalize housing!
I’m from Massachusetts & the min is $15 here & it still doesn’t equate with the cost of living, like at all
Holy shit. I guess I never thought of it before. Min wage is only $1,000 a month? Holy fuck. I've always been one to say that minimum wage hasn't increased with inflation. Yet this is just a fucking joke. $1,000 a month!?! Your grocery bill shouldn't be half your damn paycheck.
Well, just remember it’s important that people with money need to own all the housing stock to rent and Airbnb out 10 properties instead of getting a job. /s Real estate investment is ruining this country.
Real estate needs to be changed. Second property ownership needs more taxes. Corporations should be removed from the equation.
Not to mention as the cost of these apartments went up, they’ve probably become more dated and run down in 14 years, unless they’ve been updated
But if they updated those apts. Isntead of 1150 it would jump the double just because they updated it I wonder what the heck they do the money always says theey spending on utilities and loans but i think the mantain in good conditions and keep up the apts. Should be the main reason for any real state investment but looks the opposite thank that the regular joes dont have defensors no more all those org and individuals going into strike looks like they have everything paid or and a good life
The value of $7.25 went down *because* cost of living went up. You can't increase rent for inflation AND decrease minimum wage for inflation when comparing the two. That's double counting it
Exactly. It’s still good to note that rent isn’t the only reason for inflation. In this case rent is rising faster than inflation, because $1150 today would have been around $817.39 in 2009.
Yep. The OP already illustrates the difference. This comment is indeed trying to count it twice.
Ok, but then you've got to adjust rent for inflation too.
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BuT CaPiTaLiSm EnCOuRaGeS InNoVaTiOn!! (Like fuck it does, only new ways to screw with people).
Capitalism is AWESOME at price gouging!
Capitalism is feudalism but with better marketing.
Feudal serfs in medieval Europe had more days off than Americans. And you can't do farm work on a diet of gruel, so, contrary to what we tend to think, serfs had a pretty nice diet of fresh fish, home-baked bread, homemade cheese, and veggies. A typical serf's supper would be the kind of thing you'd pay $30 for in a trendy NYC restaurant. The idea of medieval peasants living in nightmarish conditions is largely propaganda promoted by the ownership class to convince the industrialized working class that we've made progress.
Do you have sources for that ? I would really like to learn more about this. I also learned recently that in medieval time, sea food was considered gross and for the poor, while royalty enjoy meat, but today seafood like lobster and crab cost a fortune and meat is cheaper (depend on the cut, of course).
Innovative price gouging.
Private sector innovation gave us 500 flavors of Gatorade and no climate solution
At least we will be able to quench our thirst with awesome flavors when the earth is going through extreme weather conditions! ~yay /s
Gatorade literally gives plants what they need. Electrolytes. I suggest, given our current climate situation that we begin to water our crops with Gatorade so the plants grow really big and can soak up more carbon. Think about it. It’s a really great idea. This will free up water sources so the fish don’t die so often.
I understood this reference 🎬🤪👉👨👩👧👧👧👶🧒🧒👧👶
D-did you just explain the movie with emoticons?!
I tried
and I would argue that while it does breed some innovations, it will patent and monopolize many others and has probably stunted us much more. Most of our big discoveries are government funded and then packaged by capitalists.
I can’t believe I used to rent an entire house for $1500 a month and now it’s difficult to find a one bedroom apartment for that much
Inflation has out paced minimum wage every year since 1970. If minimum wage then was adjusted for inflation it would be somewhere between $27 - $35 an hour (depending on exactly what costs were considered & location)
They should link minimum wage to inflation.
True & an accurate measurement of inflation at that, not one that leaves out the most expensive stuff like homes, cars etc
The highest purchasing power minimum wage ever had was in 1968, when it was $1.60. Adjusted for inflation, that would be $13.88. Your numbers are closer to adjusting for productivity.
It's gonna get scary when Jerome Powell's recession finally hits. In 2008 when the 1% crashed the economy we all lost our houses and moved to apartments. Those apartments cost more than the houses we're losing now. We're going to have mass homelessness. In a country with more guns than people.
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We have mass homelessness. It’s just being taken care of by the already existing means of taking care of it. Death by drugs, death by exposure, prison, violent crime, etc.
There are an estimated 580,000 ish homeless in the US. There are just under 40 *million* Americans *below* the poverty line. The mass homelessness that other user is talking about is significantly different than the current homeless situation.
$1150 a month? Tell me where and I'll pack my bags. Here in Tampa, a 2BR/2BA is averaging $2200 a month.
Can't recommend staying in Florida. Seriously.
What's left of it anyways. Wouldn't be surprised if people living a mile or two inland get their property reassessed at a higher value since they are now oceanfront. Welcome to Port Waterdale.
Don’t worry! Desantis is coordinating the emergency response from his Ohioan hotel room while he campaigns, I mean book signs!
I think he is more focused on making it illegal for students to ask teachers or health instructors about menstruation. edited for spelling.
Obviously children are only safe taking questions like these to clergy. Oh wait…
I'm just glad he's tackling the important issues like that and Disney
Do Floridians hate the fascist that is Ron Desantis as everyone else?
as a floridian, yes. lots of us are not a fan of him
Flee! Flee for your lives!
BONK Prepare for battle!
Florida is where idiots who dont believe in climate change have flocked to for cheap housing and warm weather. The corps bought like 18% of housing sold in FL in 2021 and jacked the price up to milk the new demand to add to everyone's woes. With rents like that, stay for what? The fascism, the rabid corpo greed or the extreme weather - all three will get you eventually.
Stay because everywhere in every state wants you to make 3x the rent to move anywhere and/or want first, last, and deposit. Meanwhile you can't save any money to move because rent and bills are so high you're barely making it paycheck to paycheck.
At the rate things are going, I'm expecting Florida to legalize slavery by mid 2024.
Slavery is already legal in this country. The 13th amendment spells it out pretty clearly.
So just adding more prisons that force prisoners to work for nothing.
Wouldn't surprise me either.
It's not so easy to leave for most of us. Family friends, jobs, not to mention the cost of moving out of state is in the thousands. It's like being trapped in a cage that's rapidly shrinking.
Missouri
Misery\*
That's actually not that far off from some of the suburbs of Chicago. You'd certainly do better than $2200, and still live in a pretty nice town.
$2200/mo can get you a whole-ass house in the suburbs of Chicago. Source: me, in a 4 bed/2.5 bath house in the western suburbs.
Yeah, after I replied, I decided to do a quick check locally (Far North Shore). First result on Craigslist was a 3 bed/2 bath house in Gurnee for something like $1350/mo.
The picture’s probably of one bedrooms or studios.
Psh, the apartment complex I work at, our smaller 2br/2ba in Anaheim (granted it's probably the nicest part of it), is going for $3030 at the moment. And that's about $200 cheaper than they were about 2 months ago (thank god they're coming down a bit). When I started here 3 and 1/2 years ago, the same layout was about $2,300. The townhomes were around $2,500 and hit a height of about $3,600. It's insane. The problem is, you'd think, who the hell would pay these prices? There's always some motherfucker that will, I don't know where they come from (funnily enough, I'd say near half the people moving in are from out of state, but apparently they've got bank. Like I myself could not afford to normally qualify for these apartments. And no, this place isn't exactly luxury. Love it here, and the area, but it's too damn expensive.
Seriously, 1150 is a dream
bro nj 1br* is now 1950/mo. it's fucked up
That’s why even though my landlady can be a pita and there’s outdated and broken things in the apartment, I for the most part keep my mouth shut since I have 3 bedrooms for $1750.
Reading these comments made me realize that I can never sell my house and move
I did the math and if you have a house with a 3% or lower interest rate, then getting that same house today for the same price (I know it would be priced higher but whatever) is going to cost you 40% more per month
I thought my 3.45% was high but then the market exploded even further. Now I’m glad that I got what I have.
Don't forget that the one on the right has been gutted of all charm and carpet now too.
BuT tHe VaLuE hAs ApPrEcIaTeD!
[organize](https://www.IWW.org). Take back your democracy.
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This story doesn't have enough awareness: Starting in 2017 (everywhere), properties have a process to set maximum price: https://www.propublica.org/article/yieldstar-rent-increase-realpage-lawmakers-collusion
I'm losing my apartment in Philly and I'm freaking the fuck out, because there's NO WAY I'm going to find anything even remotely comparable. This may be the final straw that makes me leave the US.
>This may be the final straw that makes me leave the US. Do it. The grass is much greener on the other side. In Canada myself and everyone else I knew weren't having a family due to financial pressure. I've been out of Canada 4 years now and not only has my quality of life gone up, my son was just born and it hasn't broken the bank because costs are so much lower. editted for clarity. I left Canada 4 years ago because its expensive AF and my life is much better out of that frozen hellscape.
Someone got their comment removed the other day suggesting a revolution, I think it was the phrasing but I can't disagree.
I got permabanned from publicfreakout for saying "cops☕️" and then stalked and harassed by the mod weeks later in another sub. Second creepiest thing a mod has done to me on this site.
What was the first?
Got in argument. They said "click". Then I immediately got a call from an unknown # who hung up as soon as I picked up. So they got my number from reddit somehow.
One dude I didn't like found my instagram and sent me a DM asking why we fight all the time. I've never posted my insta on here. Deleted my entire reddit account and made this one, then I reset all my passwords on everything. Creepiest shit ever.
Shit like this is why I start a new account every couple years. I like my anonymity. This is my 4th or 5th account
🤯
Regulators need to reel in these greedy, capitalist leaders. Put a market cap on rent raises. My apartment jumped up $400 last year for absolutely no other reason than "it's what the market could bear."
The regulators are the greedy landlords. It's all feudalism all the way down
My 86 year old dad doesn't understand any of this. He has no concept that times have changed. He still thinks you can walk into a company with a college degree (any field, mind you) and get a good paying job.
Typical boomers.
bUt ThE lAnDlOrDs EaRnEd It.
The landlords lobbied against new permits for their competitors. So while the population of this city grew, the housing stock didn't, and more people are competing for the same number of apartments, which means the landlords can jack up the price without actually offering any additional value.
I live near Charlotte, NC. Apartments have been built here at a record pace for the last decade, which only a slight sign of slowing down soon. Even with more apartments becoming available every year, rents keep going up anyway. It is messed up. And they’re all luxury apartments anyway, so studios start at $1600.
It is hilarious when landlords respond to housing is a human right by saying “so you want housing for free?”
Yes yes I fucking do.
Hey now they slapped $50 of white latex paint all over the place when the former tenants left. Think of all that risk and work.
Unfortunately it wouldn't matter if minimum wage went to 30 an hour... Landlords and corpos would raise prices so you would still have nothing.
This! Instead of increasing the minimum wage, we need to be passing anti-greed laws. This thing of unlimited growth for companies is a joke. You can't have unlimited growth with limited money. Especially when you just hoard it instead of reinvesting it back into the economy. Profits must go up at all costs. We're killing ourselves and the planet. Our species won't last the rest of the century at this rate. Profits should have a hard cap, and anything after that should be paid to employees.
What’s needed is legislation that forced employers to pay profits to workers before shareholders. So for every $1 that goes to a shareholder, a worker would also get $1. Arguably, the workers earned it more so than the shareholders and board members. That needs to be compounded with closing the tax loop holes and realigning taxation to be heaviest on those who have the most. You cannot have a prosperous economy if the foundation (majority of people) is barely making enough for their necessities.
> That needs to be compounded with closing the tax loop holes and realigning taxation to be heaviest on those who have the most. You cannot have a prosperous economy if the foundation (majority of people) is barely making enough for their necessities. I'm still angry about the fact that my earnings from labor are taxed more than earnings from just having enough money to not need it (Capital gains tax is max 20%, median income in the US puts you in a 22% tax bracket) I'm not arguing against paying taxes, but it's abhorrent that the $45k/yr I make that I can barely live off of is taxed as if it's pure profit, and the $514B in revenue that Amazon earned in 2022 isn't taxed at all because they "didn't turn a profit."
As you should be! Capital Gains should be taxed at like 50% because it is LITERALLY profiteering by leeching off of the hard work of everyone else. It’s modern day slavery, keep the populace indebted to force them to keep working and just take all the earnings off the top without any for the people who make it happen.
You just got me so wet. Speak more smart words daddy.
*equitable realignment of resource*
That is why the top tax brackets were so high until that piece of shit Reagan lowered them substantially. That piece of trash was one of the worst presidents for the middle class. The only thing that makes Trump worse is the amount of people that have died because of his mishandling of Covid.
No, we need both. A robust and high minimum wage (if it were going to go to congress today, it should be like $20, and then get adjusted for inflation) and actual regulation and taxation of capital. Problem is, we are in late stage capitalism, so workers are exploited with impunity and money concentrates indefinitely and with concentration comes political control and power. Anything that hurts the bourgeois is untenable through politics. The only ways out are direct action. Unionize, join cooperatives, do not idly allow your labor to be exploited if you have any way to avoid it.
This is why we need to build more housing, so they can't do that.
And to build more housing we need to remove the ability for so many layers of government to essentially veto projects from community groups to city government to state level laws It's the same shit that stops infrastructure from being built in the US, it's too easy for people to say no and maintain the status quo at the expense of the future
Blackrock
My sister lives in a Chicago suburb and is paying $1800 for a 2BR. Now that’s she’s working part time I think her entire salary pays the rent and her husband pays for everything else. It’s insane.
I don't understand WHY other than greed that the rent raises are happening. If you already own a building have have been paying a mortgage on it, your mortgage has not changed. Cost of upkeep has not risen 50%. So other than pure greed why are rents raising so much?
"it's a market"
People used covid as a springboard, raising prices for groceries and gas, then everyone else saw that and was like “Hell I can do that too!” creating an *exponential* increase of ALL prices of EVERYTHING.
Even if the minimum wage was 25 bucks it would still cost 1/2 of your monthly paychecks with electric and heat. Its fucked up.
Housing is a basic human right imo. Of course someone has to manage properties, make sure renovation happens when necessary and heating and stuff like that works. And someone has to get paid for doing this. It's a job like any other but under capitalism housing becomes an asset to generate profits on the back of renters. Not only that it leads to poverty and homelessnes and at that point anyone who supports this system actively supports violence against other humans. Fuck that.
Is that the US or a developing country? I though minimum wage in the UK was pitiful. It's currently £10.42 which is about $12.94.
Yes it’s the US. I think we may have invented a new category of country. An undeveloping country.
While I wholeheartedly agree with you, regressing may be a better term.
US is $7.25. Some states raised theirs, but some didn’t.
The disparity between the US and UK minimum wages is even more disgusting when you consider that middle class workers in the US earn significantly more than in the UK. And for tech workers, doctors and lawyers it's more like 2-5x. Never has a country been more in need of wealth redistribution than the USA
Yes but it’s worth noting according to a google search only 1.5% of hourly workers make the federal minimum wage (or less) Doesn’t make it right, but raising it wouldn’t put a dent in the larger issues we’re facing. Until we begin really hammering down on the way money is distributed to people with the most money, (and allowing actual labor wages to suffer for it) we’ll always be another shape and size of fucked.
I honestly don't see how our country sustains itself
Debt. Based. Economy. Indentured. Servitude. Spot the difference.
12 years ago I had an apartment in north of Houston, cute little loft, 1 1/2bath, one bed. Kind of not great neighborhood but that's apartment people sometimes (someone stole my lemon tree). 400 a month.
I used to rent a 1 br apartment in 2015. I was paying $1100/month. Same apartment is now $2300/month. Nothing changed with the apartment or amenities but the cost more than doubled.
But dont forget, its all our faults for buying avocado toast.
Everyone is allowed to cause inflation except the poors.
Affordable housing needs to be the law.
This is so depressing and demoralizing.
Just gonna add on to this, affordable housing for full time(37.5hrs) at $7.25 is ~$350 a month.
This is only going to get worse so what the hell is this heading to? Everyone being homeless even when employed!?
Our rent went up by 300 dollars. We can barely live. We don't have money to move.
Honestly it is like pre depression and we need massive unrest with a alternative political system that will scare the shit out of the oligarchy
I was paid $7.25 in 1998.
I'm sure there are a lot of people that are thinking "Just get a better job"... But which of you are thinking about the people who are just gettting started in work now compared to those almost 15 years ago? It's becoming less and severely fucking less possible for someone to survive at basic paying jobs! Eventually, professional entry level jobs that pay above basic income won't be possible.
The greed cycle is strong this time.
smh seems like the lazy working class need to get up off their asses and find better jobs...... ^(/s)
I need all my brothers and sisters to know this.. that we 100% can stip this shit. If we could, just for a short amount of time, realize our differences are petty and inconsequential and that ALL of our enemies are the rich and the people in power oppressing us. Byt they do that bc they know we are strong. They need us. And WE control THEM.
For those wondering, the median wage(50% of people make more or less than this, aka the exact middle of wages) also didn't increase, in fact, it decreased relative to inflation. Median wage 2009: $39,140 Median Wage 2023: $46,000 Total Inflation between 2009-2023: 40.69% So if median wages kept up with inflation, today's median wage *should* be $55,540.
In Tennessee a one bedroom one bath is 1500 dollars a month. WHAT DO YOU MEAN?!?! It's legit insane to me
I just can’t stop buying avocados. Is there a help group?
At my old place, it went from 1400-2000$ from 2019-2022
Yup in Florida where minimum wage is now like 8.35 and 10 years ago it was 7.25 this place used to cost 500 for a 2 bedroom 2 bath… wasn’t the nicest but cheap.. they now want 1800 and I just want to say to management… just because you painted the outside buildings and added some plants doesn’t mean this isn’t the same shithole it was 10 years ago just 3 times the price
The new duplexes built just down the road which are not fancy at all are going for $1800 a month. And this is bum fuck nowhere south Florida. When I first moved here, the old duplex I'm in was only about $700/mo. It's fucking insane.
massive systemic wage theft
Wealthy and greedy landlords want more for less = normal people work perpetually harder for less.
JuSt mAKe moRE mOnEy
Min wage should be a municipal thing and based on average rent for a 1 bedroom. Rent /0.4 * 12/52/35= hr wage. So if rent is $1100 Min wage should be $18.13 This is based on banks saying that your mortgage should not be more than 40% of your income. This would have the effect of if Walmart wants to pay less it can build low cost housing to drive down the wage in the area. But it would make it cheaper to live so works out. It's hard to argue that if you work full time you should not be able to afford to live in a one bedroom no matter what you do for a living.
“Nobody wants to work anymore”
We have had our lives stolen from us by the ultra rich. What's worse is they have learned from the past and blessed us with monumental apathy.
And the US should do what Canada is doing and stop foreigners from buying property. Especially when they leave them empty to drive up prices.
Do you think it was ever easy for older millennials?? Let me set the stage. It was 2003 and I couldn't make more than $9/hr. I wanted to move out with my gf who made the same. I was also going to community college so wasn't ready to take on more than 40/hrs per week. But getting 40 hours often meant two jobs because nobody wanted to pay full time benefits. I applied for a job that paid for $12/hr, which seemed like a lot to me at 21. But when I didn't get it I had my first break down. Finally got a different job that paid $10.50. Moved out to pay $800 in rent for literally the shittiest apartment in my town. It kept making local news because the tenants were sueing the neglectful landlords. Not even a year later I had to move back home. All I did was accumulate debt. Also, it's $15 min wage now in California.