re: $15/hr Min Wage and Rent Increases (Now A Min Wage Discussion)

This is such a broad question but I'll give some thoughts on it:

1. I think, if anything, we will see a "phased" increase in the minimum wage. I don't think you'll see it go from $7.25 to $15 overnight (I certainly hope not). When the minimum wage was increased from $5.15 to $7.25 in the late 2000s, it was increased three times in 2007 - 2009 to $5.85, $6.55, and $7.25, respectively.

2. If an increase in unemployment from an increase in the minimum wage is offset by an increase in welfare benefits and/or unemployment benefits, you'll see more of the lower end rental market either become Section 8 housing (or pseudo Section 8). Investment residential real estate has performed pretty well in 2020 because tenants that lost their jobs are making pretty good money being unemployed with the increased UI benefits.

3. Housing is generally a decent inflation hedge. I think you'll see housing prices going up on a nominal basis. What the impact would be on "real" housing values, I'm not sure.