Dan Price says raising min wage to $70k led to baby boom, revenue rise

Re:Dan Price says raising min wage to $70k led to baby boom,... by ceejayoz on Wednesday September 15, 2021 @03:05PM (#28543006)

The point is that the difference in wealth between AU and US is, to at least some extent, due to a vast amount of largely inaccessible paper wealth.

If I'm willing to sell my house in Sydney and move to rural Queensland, I'm wealthy. If I'm not, selling my $1M house means I have to go find another $1M house now.

(And yes, the median house price in Sydney is over $1M.)

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Re:Dan Price says raising min wage to $70k led to baby boom,... by fulafel on Thursday September 16, 2021 @02:31AM (#28548744)

I think big cities have diverged from the country average globally and the impact on country average metrics then depends on the degree of urbanization.

According to https://en.wikipedia.org/wiki/Urbanization_by_country the urbanization rate in AU is ~2x the US, so people are moving to cities at a much bigger rate? Even in the face of the high prices.

But yep I still see what you mean, on the country-averages level the AU prices seem to have been constantly rising faster in AU than US.

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Re:Dan Price says raising min wage to $70k led to baby boom,... by ceejayoz on Thursday September 16, 2021 @02:53PM (#28555670)

The median home price in Melbourne is nearly $1M as well; between the two cities, that's about 40% of the population of Australia that needs a million bucks to own a house.

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