5% Skin in the Game Hits the Federal Register; LOs Watching Changes in Texas Law

By Rob Chrisman

Posted To: Pipeline Press

Economists are carefully watching the impact of falling oil prices on the Texas (and other oil states) economy. For single adults making the federal minimum wage of $7.25 per hour, it may be impossible to find a place to live that won’t cost more than the common rule of thumb that annual housing costs should not exceed 30% of one’s annual income. To determine the amount of income needed to live in a particular area, Zillow analyzed median rents and the income necessary to afford them in more than 15,000 cities nationwide. Zillow’s analysis found that a single worker making the federal minimum wage could not afford rent for a typical property in any of the 15,000 cities and towns Zillow researched, without exceeding the 30% threshold. Households with at least two workers earning the federal…(read more)

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