Markets aren’t perfect, but they generally get things right in the long run, as long as they are left alone. Argentina’s wonderful Javier Milei seems to have assimilated that fact, even if his American counterparts mostly have not. In the most recent evidence of El Presidente Milei’s economic acumen, we see that he has trashed Argentina’s rent control program – and the rental housing market is now booming.
For years, Argentina imposed one of the world’s strictest rent-control laws. It was meant to keep homes such as the stately belle epoque apartments of Buenos Aires affordable, but instead, officials here say, rents soared.
Now, the country’s new president, Javier Milei, has scrapped the rental law, along with most government price controls, in a fiscal experiment that he is conducting to revive South America’s second-biggest economy.
The result: The Argentine capital is…
