Birdwatch Note Rating
2025-05-18 21:24:39 UTC - HELPFUL
Rated by Participant: C44FE37BD33FA9849F09FFE2DACB59B787C631DC6646E1CDB8F8C035DB9C8FF8
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#
All Note Details