I was wondering what effects everyone thinks the minimum wage increase will have, if any.
I was thinking that the increased wages will increase costs for businesses, in turn increasing the final cost of many goods/services. Many of these goods/services are used by lower/middle income families(large % of renters). (fast food/groceries/dollar store/babysitter/etc)
By the time you look at the net increase in wages vs the increase in cost of living, will your renter have more money or less money? Will vacancies increase or decrease, or do you feel it will have little effect? Will the increased costs to businesses result in an even greater unemployment #? If yes, will the vacancy increases be enough to lower rents as well?
From a commercial(non-residentail)standpoint -do you see the extra pressure, that may be put on small businesses, causing more of your tenants to look for rent decreases, umbrellas on repairs, etc?
I haven't found much talking about any effects the increase may have and am curious to see what everyone's input is.
I was thinking that the increased wages will increase costs for businesses, in turn increasing the final cost of many goods/services. Many of these goods/services are used by lower/middle income families(large % of renters). (fast food/groceries/dollar store/babysitter/etc)
By the time you look at the net increase in wages vs the increase in cost of living, will your renter have more money or less money? Will vacancies increase or decrease, or do you feel it will have little effect? Will the increased costs to businesses result in an even greater unemployment #? If yes, will the vacancy increases be enough to lower rents as well?
From a commercial(non-residentail)standpoint -do you see the extra pressure, that may be put on small businesses, causing more of your tenants to look for rent decreases, umbrellas on repairs, etc?
I haven't found much talking about any effects the increase may have and am curious to see what everyone's input is.
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