Speaker 1
Oh yeah, the best. A great wardrobe really can help you level up too. I always feel more confident and ready to go CEO mode when the fit is fantastic. Me too. But you know what? It's a bummer how that feeling is hard to come by.
Speaker 2
It's kind of tough finding clothes that fit right.
Speaker 1
True. But here's some good news. That's not the case with Bonobos. As an absolute OG in the business casual game, Bonobos takes every detail of their clothes seriously, especially fit. They're craftsmen, really. They zero in on the details from the stitching to the construction, so you get a bespoke, tailored look without the bespoke price. Plus, the fabrics are high quality with a perfect amount of stretch.
Speaker 2
Bonobos are legends. Their pants are goaded. You never get that diaper butt look in a pair of Bonobos chinos. No,
Speaker 1
sir. That's because Bonobos uses a signature curved waistband, which gets rid of the extra fabric that leads to diaper butt, as you so aptly put it.
Speaker 2
Head over to Bonobos.com and use code BREW20 for 20% off. That's B-O and use code BREW20 for 20% off.
Speaker 1
Thank you. and use code BREW20 for 20% off. at maersk.com/insights. Welcome to Neil's Numbers, the segment where I share three stats from the week's news that will have you saying, finally, I'm Sir Regis with extreme confidence. For my first number, let's take a trip down to Argentina, where eccentric new president Javier Mille has scrapped one of the world's strictest rent control laws in his ambitious effort to turn around the country's ailing economy. New figures out show that eliminating rent control has unleashed a housing market explosion in Buenos Aires, the capital. According to the Wall Street Journal, rental supply in Buenos Aires has jumped by over 170 percent since October, while rent prices have declined 40 percent when adjusted for inflation. The results lend more ammo to rent control critics who say that while they're well-intentioned, they backfire because they disincentivize landlords to add more supply and push down prices. And rent control did take a lot of supply off the market in Buenos Aires, that is for sure. Rather than comply with the government's price caps, landlords instead chose to keep apartments vacant or put them on Airbnb. In 2022, Buenos Aires had 200,000 empty apartments, which is a 45% jump from 2018. So finding a rent control department as a local was just so difficult. Big picture, scrapping rent control is just one small part of Miele's so-called shock therapy to jolt Argentina's economy from its coma. At least in the housing sector, it's injected some life. Yeah,
Speaker 2
it is one of the clearest examples yet that rent controls haven't really worked historically you're right. It just creates just all sorts of improper incentives for landlords. There was this national law that required a minimum three-year contract, and then you could only increase prices annually, and that was at a rate set by the central bank. But the problem with that is that pesos, their denomination of currency there, was just inflating at an incredible rate. So these landlords looked for ways to get around those rent controls. And you're right, Airbnbs became very popular because those tourists would come in and likely pay with dollars, which is just much more valuable. They started renting to only people within their very small social circle, which made it just this huge black market appear in the housing market as well. Or they just started jacking up the prices of new leases too. So there was just a lot of different incentives that happen when you mess with kind of a market in the way that rent control does. But yeah, he calls it shock therapy. Melee calls it shock therapy. He's doing it to everything too. He's closing government agencies. He's also scrapping price controls on milk and sugar. So we'll see in the long term if this works. His approval rating, it has been dipping recently. So yeah,
Speaker 1
from 60% to 45%. It
Speaker 2
remains to be seen like if this long term will play out. But right now it seems to be working at least in the housing market,
Speaker 1
at least in the housing market.