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With new ordinance, Santa Fe becomes first city to tie minimum wage to rental costs
(www.abqjournal.com)
this post was submitted on 20 Nov 2025
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Much as I like this idea, it feels like this may backfire badly. They'd be better off doing things that would reduce the cost of housing, like building more housing.
Building more housing only reduces the cost of housing if you don't allow all of it to be turned into air bnbs. We need to modernize zoning laws.
The air bnb issue is the real problem, if they banned air bnb in santa fe it only can benefit the city
It's not air BNB itself that's the issue. I don't see much problem if you have a second house through inheritance or whatever you rent it out. I think the bigger problem we are facing is corporate landlords, limiting personal and corporate ability to own more than a few properties would solve more issues.
A major part of it is not just corporate ownership, but also lack of supply of condos as an alternative to houses. Pushes houses prices up. Pushes rent up because people don't have any options to compete with apartment rents
This is a really good thing, it just doesn't go far enough.
If minimum wage is tied to cost of living it reduces the incentive to price gouge.