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Florida minimum wage increase passes
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As stated previously, minimum wage increases will not solve the issue of high rents. The state of Florida currently has a ~5.4% housing shortage for the population, while the USA as a whole is short nearly 2.5 million homes. No matter how much money you make you cannot purchase that which does not exist. Meanwhile towns and cities around the country are doing everything in their power to discourage the building of new housing, including my own town who consistently refuses to allow developers to build new apartments and condos in unused retail gray space. Bottom line, if we want rents to decline we need a large and wide-scale building project to increase the supply.
“An empty vessel makes the loudest sound, so they that have the least wit are the greatest babblers.”. - Plato
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