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minimum wage
federal minimum wage
small business owners
unemployment numbers
mixed emotions
health care costs
financial institutions
San Francisco Raises Minimum Wage To Over $10/hr
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On January 1, 2012, some workers in a California city will see a historic landmark when it comes to wages in the US. San Fransisco will be the first US city to raise its minimum wage to over $10. The lowest paid workers will be working for no less than $10.24 per hour. That is more than $2 per hour more than the state mandated minimum wage, and almost $3 more on the hour than federal minimum wage.

Although it is a price increase of only $.32 per hour, there is a lot of mixed emotions concerning this topic. The small business owners are not real excited about it. What the average citizen might not know is that the small business owners who do not offer any form of health insurance must pay almost $2 an hour more, per employee, for health care costs. These costs add up in the form of operating a business in the Bay City. With the health care costs associated, along with the added pay hike, many small businesses have operating costs that almost double cities with comparable populations.

For the workers that it affects, it is more than just a few more dollars on the paycheck. It is also a morale booster. With public and private sector jobs laying off employees and forcing furlough days on their employees, it is almost unheard of for anybody to get a pay raise these days that actually make the news. Even more so for the hard working minimum wage employees.

Still, with news of minimum wage increases, and unemployment numbers going down, it is still a prime time to purchase a rental property investment. The numbers are still very high in the foreclosure category, and more people in astounding numbers are being forced into rental properties these days. Although the time may be harder to purchase an investment property today, there is still no better time to start planning and looking for a property.

Banks and financial institutions still have a record number of properties that they still need to get rid of, not to mention the private sellers who are just looking to get rid of that high monthly payment that they can no longer afford. Even if you have to get a loan to purchase a property, your fixed monthly payment will not go up. However, the amount that you can charge for rent can always go up on your rental property investment.

Whether you live on the west coast, or the east coast, an investment on real estate is always a good investment. If you have not looked at this option, I would urge you to do some research, and take a serious look at your best options.

Street Talk

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