Zohran Mamdani, the mayor of New York City, has proposed a four-year rent freeze on approximately 1 million rent-stabilized apartments, which could result in a decrease in housing supply and quality. However, this plan could be problematic if socialist ideology prevails in the city. Instead, market-based solutions such as deregulation, streamlined permitting, and removing barriers to housing construction would increase supply and stabilize rents. This comes after Argentina implemented the 2020 Lipovetzky Law, which imposed rent controls and housing regulations that extended minimum lease terms, regulated annual rent adjustments, and required rents to be paid in pesos. However when Javier Milei was elected in 2023, it took seven months for rental supply to increase by 212%. Rental listings on Zonaprop rose by 15,300 units, a 180% increase as of February 2025.