Inflation

[spdrun]

In that market, much cheaper to rent than to buy 🙂 Or at least hold short-term.

Not like you can just walk away without a lifelong deficiency judgement.

[njtosd]

[quote=FlyerInHi][quote=spdrun]Personally, I’m pulling for high unemployment AND a high min wage in the next recession. People replaced by automation can’t buy homes.[/quote]

I like your anti-establishment views, but you’re a much bigger ass than I am.

Why would you not want all Americans to live well in nice comfortable homes and have decent paying jobs? The rising tides lift all boats.[/quote]

+1. He’s miserable and he loves company.

[spdrun]

You’re confusing sadism with rent seeking.

[Anonymous]

Seriously you think increased minimum wage will support Socal housing prices? Think you need to brush up your math skills.

What it will do for sure is further subsidize illegal immigration and make all of our food and restaurant bills much higher. Meanwhile having no positive affect on the salaries of the typical working professional. It will also act as final nail in the coffin of the teenager in the part time work force.

[flyer]

As I mentioned on another thread–it will definitely be interesting to see how all of this plays out over time.

[FlyerInHi]

[quote=deadzone]Seriously you think increased minimum wage will support Socal housing prices? Think you need to brush up your math skills.

What it will do for sure is further subsidize illegal immigration and make all of our food and restaurant bills much higher. Meanwhile having no positive affect on the salaries of the typical working professional. It will also act as final nail in the coffin of the teenager in the part time work force.[/quote]

It’s no different than Henry Ford paying his workers well so that they could afford his cars.

We will just have to watch LA for you to be proven wrong. I’m predicting continued expansion into 2015 in Southern California.

A higher minimum wage in LA would be great for the economy. When people have more money, they will spend, thus improving the economy.

LA is undergoing a renaissance much like NYC did. A $15 minimum wage would be great for the young creative class in LA — talented people who come to LA in search of opportunities. They work day jobs in the service industry while they pursue their dreams. The more dreams they achieve, the better the economy. They are in the arts, entertainment, tourism, technology… they have creative ideas that can merge old ways with new technology.

That will lead to better rents, and the renewal of the housing stock in urban LA (that has been neglected for many decades).

If the minimum wage is so scary as you say, businesses should be packing and leaving LA as we speak. Let’s revisit in 2020. At that time, maybe you would wish you owned a condo in Hollywood where the drunks used to hang out.

[FlyerInHi]

I meant continued expansion in SoCal to 2020. I see potential in LA more than SD.

[spdrun]

.

[fun4vnay2]

i think it is a mis-understanding that if minimum pay folks are paid more they’d spend more.

If the minimum pay is increased to 15/hour, I don’t think these folks would open up their pocket…

[FlyerInHi]

[quote=rockingtime]i think it is a mis-understanding that if minimum pay folks are paid more they’d spend more.

If the minimum pay is increased to 15/hour, I don’t think these folks would open up their pocket…[/quote]

Yes, they do. Minimum pay workers spend all they make. Proportionately more velocity/turnover from people who live paycheck to paycheck.

Increasing their pay will allow them to live better. Maybe they’ll rent something nicer, or have 2 roommates instead of 3. Or they’ll buy better, more reliable cars which will allow them to get to work on time and be more productive. More productivity = better economy.

Again, we will see how LA works or doesn’t.

[an]

[quote=FlyerInHi]Again, we will see how LA works or doesn’t.[/quote]Yep, we will see soon enough. It’ll be interesting to see if small biz stay in LA or move to surrounding cities. I heard Glendale have already trying to court the businesses with the sale of lower min. wage.

[Anonymous]

Even if the higher minimum wage doesn’t scare off businesses, end result is higher costs for the rest of us. And at least in Socal, a good portion of minimum wage workers are illegal immigrants. Much of their money is going home in remittances, not all going to our economy. If anything, higher minimum wage will attract more illegal immigration. And regardless of immigration status, minimum wage workers cannot afford to buy real estate in Socal so this will have little effect on housing prices.

Again, I see nothing in this scenario that is positive for the typical middle class professional. Flyerinhi is living in a fantasy land with his “rising tide lifts all boats” analogy.

[Coronita]

[quote=deadzone] And at least in Socal, a good portion of minimum wage workers are illegal immigrants. Much of their money is going home in remittances, not all going to our economy. [/quote]

Source?

[Coronita]

[quote]
And regardless of immigration status, minimum wage workers cannot afford to buy real estate in Socal so this will have little effect on housing prices.
[/quote]

It will push up rent prices on the low end and spill over up the economic ladder. Possibly good news for landlords.

[FlyerInHi]

[quote=flu][quote]
And regardless of immigration status, minimum wage workers cannot afford to buy real estate in Socal so this will have little effect on housing prices.
[/quote]

It will push up rent prices on the low end and spill over up the economic ladder. Possibly good news for landlords.[/quote]

And great for redevelopment of marginal areas. Hollywood area is LA is prime example. It should be much more prime real estate and prime tourist area.

[Author]

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