Housing: From a Basic Need to a Structural Problem

Housing has ceased to be a space of stability and has become the main source of economic uncertainty for millions of people.

The need for housing is a basic human instinct dating back to prehistoric times, closely linked to safety and survival. Today, although this may seem obvious, millions of people live with chronic stress rooted in housing insecurity—not because they are homeless, but because they lack year-to-year certainty that they will be able to remain in the home where they hold a lease. They live daily with uncertainty about renewal conditions and whether they will be able to afford the additional costs associated with ending or renewing a contract.

In Argentina, there is currently no legal framework governing rentals. While this might not pose a major problem in a mature and stable economy, in an economy still undergoing stabilization it places tenants in a very weak position to negotiate terms that protect or benefit them.

Property owners, in a market with a housing deficit, have the power to impose terms that are often absurd and unnecessary, especially given that the tenant population is known to have a very low default rate. For example, lease terms may be short without being considered temporary, price adjustment mechanisms may be left undefined, and tenants may be required to pay extraordinary building expenses after the contract ends, fees for contract renewal, or illegal commissions.

Tenants face increasingly frequent rent increases, families going into debt to cover unplanned expenses, older adults returning to the workforce, young people moving back into their parents’ homes, and—most seriously—a constant uncertainty about the future of their housing. This makes it impossible to plan or to truly enjoy a home, as they live under the persistent risk of losing what is most essential. Housing insecurity does not always displace people, but it wears them down.

According to the Tenant Survey (IDAES–UNSAM), as of December 31, 2025, 93% of tenants nationwide are up to date on their rent payments. In families with young adult children, these children often enter the labor market early to help pay rent. Many families have moved three or more times within five years, and only a small percentage did so in search of an improvement.

The survey also shows that approximately 70% of tenants’ income is allocated to housing. Tenants work primarily to pay rent and excessive costs that are not their responsibility, while cutting back on expenses such as social activities, entertainment, and even the quantity and quality of daily meals. Housing has become a source of anguish and stress—the opposite of what it should be.

Housing insecurity is not a minor inconvenience; it is a form of silent violence that permeates the daily lives of millions of people who comply, pay on time, and yet live without guarantees.

Addressing this social problem represents an investment with tangible, long-term returns. Investing not in a traditional real estate business, but in the provision of housing with a stability plan—offering the security and dignity that millions of tenants need and demonstrably value, and for which they are willing to make sacrifices—means capturing monthly payments with over 93% compliance, a figure that will undoubtedly increase if conditions are offered that foster personal growth and, as a result, economic growth within the sector.