so that regular people can afford housing in the Bay area.
How much does the average home cost in the Bay Area?
About a million dollars
How much do you need to get a million dollar loan?
For a $1 million home, a 20% down payment would be $200,000.
How many hours is it legal to work per year in the bay area?
35 hours/week * 52 weeks/year = 1,820 hours/year
What should be the minimum wage then?
$200,000 / 1,820 hours = approximately $109.89 per hour
Can you explain the flaws in my reasoning?
How much does the average home cost in the Bay Area?
About a million dollars
How much do you need to get a million dollar loan?
For a $1 million home, a 20% down payment would be $200,000.
How many hours is it legal to work per year in the bay area?
35 hours/week * 52 weeks/year = 1,820 hours/year
What should be the minimum wage then?
$200,000 / 1,820 hours = approximately $109.89 per hour
Can you explain the flaws in my reasoning?