Argentina's Rent Controls Backfire with Soaring Rents, Reversal Brings Relief

Rents in Argentina fell 20% after new president Javier Milei reversed rent control laws from previous administration
Original rent controls led to landlords fleeing market, reduced housing supply, and 286% rent increases over 4 years
Reversal of controls has quickly brought down rents and increased housing inventory
Rent control case shows how even well-intentioned policies can backfire and worsen housing crises
Similar effects seen, albeit more moderately, from rent caps in places like Scotland, demonstrating risky economics of controls