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Housing Prices

Jenkins

By Jenkins
in Providence

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Recchia Town

Recchia

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R.I. ranks near bottom nationwide in rental affordability

Rents in Rhode Island have risen so high that a two-bedroom apartment now requires a full-time job that pays at least $19.36 per hour, or more than $40,200 a year, according to a report released yesterday by a national nonprofit group.

http://www.projo.com/business/content/BZ_A...HE.2bbe562.html

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runawayjim Metropolis

runawayjim

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They are apparently using a 30% rule, so they are saying $1005 is the average 2 BDR in RI?

That doesn't seem to jibe with the numbers I see on craigslist, however I am probably grossly underestimating the number of people that live in overpriced suburban apartment complexes. Anyway, in Pawtucket at least it's pretty easy to find a decent 2 bdr in Darlington or Oak Hill for 800-850, and you can get a 3 bdr for less than $900 or so in the other neighborhoods.

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TheAnk Hamlet

TheAnk

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The report found that a minimum-wage earner making $10,712 a year cannot afford a one-bedroom home based on fair market rents anywhere in the country.

This is ridiculous.. Raise min wage to $10.. Spread the businesses' knee jerk reaction resulting in price inflation evenly through out the public..

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runawayjim Metropolis

runawayjim

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The report found that a minimum-wage earner making $10,712 a year cannot afford a one-bedroom home based on fair market rents anywhere in the country.

This is ridiculous.. Raise min wage to $10.. Spread the businesses' knee jerk reaction resulting in price inflation evenly through out the public..

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JJK5 Hamlet

JJK5

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Wouldn't a minimum wage increase just cause more outsourcing? Nevermind it's effects on inflation. You've already got fast food joints using VoIP at the drive-thru and putting in automated order takers. If they have to start paying employees even more money expect the current trend to accelerate.

Minimum wage doesn't work when there's a billion in China willing to do the work for peanuts.

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dgreco City

dgreco

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The report found that a minimum-wage earner making $10,712 a year cannot afford a one-bedroom home based on fair market rents anywhere in the country.

This is ridiculous.. Raise min wage to $10.. Spread the businesses' knee jerk reaction resulting in price inflation evenly through out the public..

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runawayjim Metropolis

runawayjim

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Wouldn't a minimum wage increase just cause more outsourcing? Nevermind it's effects on inflation. You've already got fast food joints using VoIP at the drive-thru and putting in automated order takers. If they have to start paying employees even more money expect the current trend to accelerate.

Minimum wage doesn't work when there's a billion in China willing to do the work for peanuts.

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ruchele Hamlet

ruchele

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I always feel like the "minimum wage" argument (on either side of the issue) is really overblown and lacking in factual basis.

For example, the $10K figure above is based on FEDERAL minimum wage of $5.35. Rhode Island minimum wage is already $7.10 ($14,200/yr). I'm not saying this is nearly enough to afford an apartment, either. The RI minimum-wage earner could afford about $355/mo in rent.

But it seems like another important question is WHO is actually earning minimum wage out there. What % of RI workers make only $7.10? It might be surprisingly small. And it might be largely teenagers, or single people who will live with roomates and split rent.

I'm not saying I think all is OK with minimum wage. It's disgusting to think that any business would pay any adult the minimum they are legally allowed to, and in general, working people get paid too little and housing costs too much. But the argument could really benefit from facts.

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runawayjim Metropolis

runawayjim

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I always feel like the "minimum wage" argument (on either side of the issue) is really overblown and lacking in factual basis.

For example, the $10K figure above is based on FEDERAL minimum wage of $5.35. Rhode Island minimum wage is already $7.10 ($14,200/yr). I'm not saying this is nearly enough to afford an apartment, either. The RI minimum-wage earner could afford about $355/mo in rent.

But it seems like another important question is WHO is actually earning minimum wage out there. What % of RI workers make only $7.10? It might be surprisingly small. And it might be largely teenagers, or single people who will live with roomates and split rent.

I'm not saying I think all is OK with minimum wage. It's disgusting to think that any business would pay any adult the minimum they are legally allowed to, and in general, working people get paid too little and housing costs too much. But the argument could really benefit from facts.

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dgreco City

dgreco

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I always feel like the "minimum wage" argument (on either side of the issue) is really overblown and lacking in factual basis.

For example, the $10K figure above is based on FEDERAL minimum wage of $5.35. Rhode Island minimum wage is already $7.10 ($14,200/yr). I'm not saying this is nearly enough to afford an apartment, either. The RI minimum-wage earner could afford about $355/mo in rent.

But it seems like another important question is WHO is actually earning minimum wage out there. What % of RI workers make only $7.10? It might be surprisingly small. And it might be largely teenagers, or single people who will live with roomates and split rent.

I'm not saying I think all is OK with minimum wage. It's disgusting to think that any business would pay any adult the minimum they are legally allowed to, and in general, working people get paid too little and housing costs too much. But the argument could really benefit from facts.

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runawayjim Metropolis

runawayjim

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How? Like I said above, RI already pays well above federal minimum wage, so there may be no impact on local wages at all. Also, do the people who take your order actually earn minimum wage, or more than that, so they won't be impacted anyway?

There was a good piece on the radio last night about raising the min. wage in Florida. They essentially said it made way less difference than either side of the argument claimed it would, mostly because so few people actually earned minimum wage in the first place. Unemployment in Fla is 3%, and employers simply can't find folks who are willing to take jobs that pay minimum wage, at all.

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ruchele Hamlet

ruchele

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i'm talking jobs that most americans are unwilling to do. the employers can hire illegal aliens to do these jobs for much less because they're willing to do the jobs. there are jobs that are not worth paying $7.10 or $10. and those jobs have illegal aliens working them because they are forced to pay minimum to anyone else.

it's the way it works. minimum wage does have an effect. give the illegals citizenship or a green card or something and let them work at below minimum wage. there are jobs that people just don't want those who can't speak english and they'd be forced to pay higher wages because some people are just unwilling to work certain jobs for below a certain wage.

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runawayjim Metropolis

runawayjim

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I would say that those employers will hire whoever they can get away with paying the least. If they can't figure out how to make a profit within the limits of the law and with respect for their employees, maybe they need to re-thing their business plans.

"give the illegals citizenship or a green card or something and let them work at below minimum wage." Huh? Then they wold be "legal," meaning that it would be against the law to pay them less than the minimum wage. Are you propose a different payscale for immigrants/non-english speakers?

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