read more http://blog.estately.com/2013/12/this-is-what-kind-of-home-minimum-wage-buys-you-in-american-cities/
"Fast food workers in hundreds of cities across America are striking today to demand a wage increase to $15 per hour, more than double the current federal minimum wage of $7.25. Estately compared these two wages to determine what kind of homes each afforded in ten of the most populous cities in America.
"Fast food workers in hundreds of cities across America are striking today to demand a wage increase to $15 per hour, more than double the current federal minimum wage of $7.25. Estately compared these two wages to determine what kind of homes each afforded in ten of the most populous cities in America.
For single-income families, a wage of $7.25 (not factoring in taxes or allowing for vacation days) would earn $15,080 per year, and qualify for a 30-year mortgage for a home priced at $52,437. For single-income families, a wage of $15.00 (not factoring in taxes or allowing for vacation days) would earn $31,200 per year and qualify for a 30-year mortgage for a home priced at $108,490. Here's how the two wages compare…"
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