system
Given the following post, respond as if you're commenting on Reddit:
human
If the US goes to $15/hr minimum wage, what would happen to the price of housing?

Complete layperson here. At $15/hr wouldn't more people qualify for a mortgage all at once, increasing demand and then the cost of? 

Like, fantastic! Now we can qualify for a house! Oh wait housing just went up 1,000,000% nevermind

I'm also thinking that at $15/hr they would qualify for low priced homes, but *these* homes seem to get snapped up by investors and flippers. Years ago there wasn't much of this and if you didn't earn much you could get a fixer upper. Now those are harder to find? Idk?
gpt
No, they are largely not directly related. While raising the minimum wage would have a sizable impact on earnings for minimum wage earners, it would not be large enough to cause price changes outside of markets directly impacted by increased labor costs.