Birdwatch Note Rating
2025-05-17 01:38:32 UTC - HELPFUL
Rated by Participant: 170FC8E817C0DC1EAD3F55B6501E1FB40F68A576DD960C2067AD6223F5E401F7
Participant Details
Original Note:
The minimum wage in 1975 was $2.10. Median sales prices of homes was $38,100 in Q1 1975. Median sales price in Q1 2025 was $416,900, so to keep homebuying power the same the minimum wage would need to be $22.98. This also ignores improvements in home quality since 1975. https://www.dol.gov/agencies/whd/minimum-wage/history#:~:text=The%20minimum%20wage%20went%20to,farm%20workers%20stopped%20at%20%241.30. https://fred.stlouisfed.org/series/MSPUS#
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