"Zak Ringelstein @RingelsteinME
A new report shows that a Mainer working 40 hours a week would need to make $18.73 an hour to afford a 2-bedroom apartment. Yet our federal minimum wage is $7.25.
We urgently need to raise the minimum wage to $15 an hour. #mepolitics"
So, what happens if the minimum wage is raised to $15/hr?
Does that apartment still cost the same, or does the rent rise to meet the new demand?
Would adding more apartments bring the rental cost down?
The idea that giving every taker the money to rent that apartment will change that and nothing else... seems odd to me.