As Venezuela’s economic crisis worsens, almost 7,000 Venezuelan engineers have moved to Argentina during the past two years. But Argentina’s economy is staggering, too, and the job market is fiercely competitive, so where does that leave a trained engineer?
Rents in many informal settlements in Buenos Aires are just as high as rents in the city’s safer districts, which boast better utilities. But many have no choice but to live in the former, because rental contracts in the latter demand onerous down payments beyond the reach of many locals.
Facing an acute housing shortage and the plummeting value of the Argentine peso, Argentina’s housing authority is touting a construction solution that would be both cheap and fast. But for the country’s construction industry, this solution may turn out to be a problem.
The Argentine government created a program that was supposed to make it easier for first-time home buyers to get a mortgage. But the slumping Argentine peso has put the plans of many would-be buyers in jeopardy because most homes are priced in dollars.