tag:blogger.com,1999:blog-5207550747227359267.post1368170470237548771..comments2024-03-13T09:26:30.351-04:00Comments on PunkPatriot.com: How Many Hours do YOU need to work to afford rent?The Punk Patriothttp://www.blogger.com/profile/02671149620207872986noreply@blogger.comBlogger3125tag:blogger.com,1999:blog-5207550747227359267.post-17427563288725631272012-04-20T13:56:36.356-04:002012-04-20T13:56:36.356-04:00Nope, Louise. Using California as an example, the...Nope, Louise. Using California as an example, the minimum wage is $8 per hour, slightly higher than the federal minimum. Still, apartments infrequently list below $1000 a month in urban centers. At minimum wage, that equates to 125 hours worked with the entire $8 per hour being dedicated to the rent - and that's without any taxes, utilities, necessary to keep said apartment functioning.<br /><br />(PS: that 125 hours works out to a good 70% of their income)Danehttps://www.blogger.com/profile/15839091901904333164noreply@blogger.comtag:blogger.com,1999:blog-5207550747227359267.post-31748473460398282942012-03-16T18:19:34.187-04:002012-03-16T18:19:34.187-04:00There is no economic advisor in the world who woul...There is no economic advisor in the world who would recommend spending more than 30% of your income on housing.<br /><br />So your point is kind of pointless.The Punk Patriothttps://www.blogger.com/profile/02671149620207872986noreply@blogger.comtag:blogger.com,1999:blog-5207550747227359267.post-85884843757949427822012-03-16T18:04:41.923-04:002012-03-16T18:04:41.923-04:00Listen, guy. Do no misrepresent the numbers. That ...Listen, guy. Do no misrepresent the numbers. That is what they call fudging. To say that "in no state can a minimum wage worker afford a two-bedroom apartment a fair market rent working 40 hours per week" is just wrong. The image above has been altered from its original state. Not a very clean alteration either. The original info graphic depicted "hourly wage a worker must earn to afford a two-bedroom apartment at fair market value at 30 percent of income." That's 30% of income. A VERY important thing to include in the version of the info graphic you have posted on your blog is the 30% of income. In reality people rent all the time at 40% 50% 60% their income or higher. In EVERY state a minimum wage worker working 40 hours per week can afford a 2 bedroom apartment at fair market rent. (Even though they would only need a one bedroom.)Louis G. Palmierihttps://www.blogger.com/profile/09331297522187565594noreply@blogger.com