BILL CHERRY'S GREATEST DALLAS PARK CITIES REAL ESTATE BLOG: So What about the Minimum Wage?

So What about the Minimum Wage?

There seems to always be talk and discussion about whether or not

the Minimum Wage needs to be raised.  Some places, primarily on the

East and West Coasts have raised theirs. And rather than make things

better, it has hurt their economy.

 

Housing has become tight for lower income residents, and a significant

portion have been moving away from the city, making employers having to

pay substantial bonuses to those willing to stay.

 

John Maynard Keynes, one of the most notable economists of all times,

and who died in 1946, addressed the truth about inflation and brought

it forward to talk about minimum wages.

 

I did a short video explaining it.  Click here

 

BILL CHERRY

PARK AVENUE WEALTH ADVISORS, LLC

&

WILLIAM CHERRY, REALTOR
Dallas

214 503-8563

Comment balloon 5 commentsBILL CHERRY • July 17 2018 12:47AM

Comments

Most places in my area pay above already.

The issue is that many people are looking for career pay for a starter job.

Posted by William Feela, Realtor, Whispering Pines Realty 651-674-5999 No. (WHISPERING PINES REALTY) about 1 month ago

Good evening BILL CHERRY,

We see above minium wages being paid in Austin. "Help Wanted" signs are everywhere but many don't want the lower paying jobs even though that is all they are qualified for. Sometimes you have to take what is available and work your way up.

Posted by Dorie Dillard, Serving Buyers & Sellers in NW Austin Real Estate (Coldwell Banker United Realtors® ~ 512.346.1799) about 1 month ago

There needs to be a Living Wage, rather than a minimum wage.

Posted by Michelle Carr-Crowe-Top 1% Diamond Certified Real Estate Team Sells Cupertino San Jose Homes-Just Call 408-252-8900, Family Helping Families Buy & Sell Homes 40+ Years (Get Results Team...Just Call (408) 252-8900!) about 1 month ago

Thank you so much for sharing this.  This is exactly the type of information that buyers and sellers need to make informed decisions.  Very professional!

Posted by Jim Crawford, Jim Crawford Atlanta Best Listing Agents & REALTOR (RE/MAX Paramount Properties) about 1 month ago

Here is the sad reality about raising minimum wage.  The instant the lowest rung of workers achieve it, the next rung on the feeding chain, begin asking for higher wages too.  The reason is the kid working at McDonalds, who is slinging those hamburgers has his minimum wage increase passed on to the customer who buys them.  That customer then demands a higher wage because his cost of living just went up.  And, on it goes upward among the next rungs of workers.  Once you get into other industries, those wage increases can put American workers at a disadvantage against global workers who will work for less.  I wish we had a perfect answer to all this, but I don't, other than education.  Most minimum wage jobs were never really meant to be living wage jobs.  They were positions held by those going to college, or were on their way to better opportunities.  To me, achieving higher education is key.

Posted by Myrl Jeffcoat, Greater Sacramento Real Estate Agent (GreatWest Realty) 18 days ago

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