Meanwhile in my country Burnham is flirting with rent controls yay
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SS: Article details the impact of Milei’s deregulation of Argentina’s housing market, specifically the repeal of the restrictive 2020 Rental Law.
Under former President Alberto Fernández, the country employed rent controls to minimize rent hikes starting in 2020. The law required a minimum of a three-year lease contract, and dictated that prices could only increase year-to-year at a set rate from the central bank, and required payments in the hyperinflated Argentine peso.
As people who actually know markets would expect, landlords withdrew properties from the long-term market, causing available listings to plummet and leaving roughly one in seven homes in Buenos Aires vacant.
Needless to say, that’s bad.
However, the brilliantly executed removal of these price controls in late December 2023 incited experienced a sharp reversal in the real estate market. By mid-2024, the supply of available rental units in Buenos Aires surged, and the surplus supply stabilized the market, leading to a decline in the inflation-adjusted, real price of rental properties compared to the previous October.
The new regulatory environment allows landlords and tenants to negotiate lease durations and accept rent in foreign currencies, which protects property owners from currency devaluation and incentivizes them to return units to the active market.
Is that enough? Should I also post the other articles this article uses?
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Meanwhile in my country Burnham is flirting with rent controls yay
SS: Article details the impact of Milei’s deregulation of Argentina’s housing market, specifically the repeal of the restrictive 2020 Rental Law.
Under former President Alberto Fernández, the country employed rent controls to minimize rent hikes starting in 2020. The law required a minimum of a three-year lease contract, and dictated that prices could only increase year-to-year at a set rate from the central bank, and required payments in the hyperinflated Argentine peso.
As people who actually know markets would expect, landlords withdrew properties from the long-term market, causing available listings to plummet and leaving roughly one in seven homes in Buenos Aires vacant.
Needless to say, that’s bad.
However, the brilliantly executed removal of these price controls in late December 2023 incited experienced a sharp reversal in the real estate market. By mid-2024, the supply of available rental units in Buenos Aires surged, and the surplus supply stabilized the market, leading to a decline in the inflation-adjusted, real price of rental properties compared to the previous October.
The new regulatory environment allows landlords and tenants to negotiate lease durations and accept rent in foreign currencies, which protects property owners from currency devaluation and incentivizes them to return units to the active market.
Is that enough? Should I also post the other articles this article uses?