Look at what happens when you ditch rent controls

Newsweek reports:

Argentina’s recent repeal of rent control by libertarian President Javier Milei has led to a surge in housing supply, with the freedom to negotiate contracts, previously restricted, directly causing a drop in rental prices.

So prices have dropped and supply has increased!

The law aimed to provide tenants with more financial security, but by the end of last year, an estimated one in seven homes in Buenos Aires was sitting empty as landlords chose not to rent them out in Argentine pesos.

Another success of socialism.

Since Millei’s repeal of rent control laws took effect on December 29, the supply of rental housing in Buenos Aires has jumped by 195.23%, according to the Statistical Observatory of the Real Estate Market of the Real Estate College (CI).

That’s amazing.

Sadly in the US, The Democrats are now campaigning on further rent controls.