Will more people buy?
Will more people move out and rent?
Will rents increase?
2007-02-03 07:08:56 · 4 answers · asked by Anonymous in Business & Finance ➔ Renting & Real Estate
I doubt that it will have any impact at all. I don't know anyone who is working for minimum wage that can get financing to buy a house. Even with the raise in the minimum wage, those that make minimum wage usually live well below the poverty level.
2007-02-03 07:19:32 · answer #1 · answered by zbelle 6 · 0⤊ 0⤋
If you are living on a minimum wage salary. I doubt anyone could afford to be a home owner. The answer if more people will buy, No. 2nd I don't see that changing people moving out and renting. If you mean kids still living at home. I can see rent increasing. If the rent is subsided and higher income may result. Losing some or all of the subsidy
2007-02-03 15:23:38 · answer #2 · answered by David A 3 · 0⤊ 0⤋
Probally not. What generally happens anytime there is a minimum wage increase the United States goes through a period of inflation. Within three months, inflation will probally catch up to the minimum wage increase. History, repeats itself.
2007-02-03 15:18:07 · answer #3 · answered by Lily 7 · 1⤊ 0⤋
As long as property taxes, school taxes, sewer & water costs as well as trash collection costs not to mention utitlities contiune to rise at the whim of potiticians and school boards the number of people buying homes will never increase to the numbers we would all like to see. Quiet frankly, it is far cheeper to rent...depending of course on the state & city in which you would like to live.
2007-02-03 15:20:27 · answer #4 · answered by Barbiq 6 · 0⤊ 0⤋