Oddbean new post about login | logout Way to go, #California and Governor Newsom. https://apnews.com/article/california-minimum-wage-increase-fast-food-newsom-69c26b7f07f2647149c37677446cea30 #politics
@6deb06d1 With suburban houses costing a million bucks in California, $20/hour is nowhere near enough. To pay off a $1M loan in 30 years, assuming zero interest or taxes, and take no more than ¼ of your income, you'd have to be paid about $64/hour. (1000000 * 4) / (2080 * 30) ≈ 64 Add taxes and interest on top of that, and it's even worse. California is extremely f***ed. #HousingCrisis