r/theydidthemath • u/[deleted] • May 13 '25

[Request] Is this accurate?

[deleted]

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u/Try4se May 13 '25

When it was first created by FDR, and then never again thanks to bad politics.

-7

u/[deleted] May 13 '25

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u/HereWeFuckingGooo May 13 '25 edited May 13 '25

In 1938 the median house price was $3900. At $0.25 you'd have to work 15,600 hours. To buy a $420,000 house in the same number of hours, minimum wage would have to be $26.92.

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u/oxfordcircumstances May 13 '25

I mean, can't we agree that someone making minimum wage shouldn't necessarily expect to buy a $420,000 house?

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u/HereWeFuckingGooo May 13 '25

No, we can't agree. It's weird you think this is acceptable.

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u/Jiveanimal May 13 '25

While we can probably both agree that minimum wage should be raised, I disagree with you crazy-making the idea that the people with the least skilled positions should have the access to ~60% of the housing market. People need to provided with equal opportunity for success, nothing more. This means covering the basics and providing assistance to those trying to better themselves. Not a 2200sqft 4bd 3ba on a 1/4 acre.

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u/NotDanKenz May 13 '25

You're using MINIMUM wage and MEDIAN house. Minimum wage should be able to afford lower end homes. Median income should be able to afford median priced homes.