I suspect, depending on region, there are good programmers also willing to work for a bit less. The economy has hit a lot of people, but in some areas of the US, $40ish an hour is comparable to $75+/hr here in the Bay Area -- based on cost of living.
Not that people should undersell themselves, but there are smart people around this country that may be looking for a gig that are losing out on services like Elance/Odesk (if they even know about them) because $15/hr sounds like a good deal.
Not that people should undersell themselves, but there are smart people around this country that may be looking for a gig that are losing out on services like Elance/Odesk (if they even know about them) because $15/hr sounds like a good deal.