(11-07-2020, 12:50 PM)mikesez Wrote:

(11-07-2020, 01:36 AM)Bchbunnie4 Wrote: You know what happens when everyone starts making more money? Prices for stuff like rent goes up too.

It's not necessarily a wash though.
Labor cost is only a small component of cost of goods, usually about 30%
If labor costs are forced to increase 10%, the first order effect is cost of goods only increases 3%.
Rent is different.  Rent is dictated by supply and demand.  In this case, some of the people getting increased wages may demand a place of their own, no roommate.  The housing market might be able to incrementally create new units at the same cost as existing units, which is a win for everybody (although it could create traffic problems).  But if the ability to create new units is constrained, rent prices can go up vastly in excess of wages.