# Argentine economic and real estate instability

> Live situation record from CLSTR: https://clstr.news/situations/argentine-economic-and-real-estate-instability
> Updated: 2026-10-16T16:49:51.000Z. Sources: 106. Developments: 2.

Argentina is experiencing significant economic and sectoral strain. In late September, the Government Confidence Index (ICG) fell 5.9% to 1.94 points, representing a 21.5% decline since the beginning of the year. This period was marked by a 2.9% contraction in economic activity in July, rising poverty affecting over 15 million people, and a loss of 329,667 registered salaried jobs since November 2023. Household consumption also saw a decline, specifically within the transport and vehicles sector.

By mid-October, the real estate sector in Argentina entered what CEDUC president Martín Teicher described as a “great plateau.” High construction costs and a depressed market for used properties have hindered activity. The reactivation of this market is reportedly dependent on the recovery of mortgage credit, as current credit lines lack sufficient funding for long-term financing.

## Claims

- Chilean Minister Iván Poduje called Argentine President Javier Milei 'crazy' during a business forum. (corroborated by 16 sources)
- Poduje criticized Milei's stance on public works, calling it 'nonsense'. (corroborated by 16 sources)
- Poduje argued that state investment in infrastructure is a key driver for economic development. (corroborated by 16 sources)
- The remarks occurred during the 'Conoce a tu ministro' forum organized by Icare. (corroborated by 16 sources)
- Minister Poduje issued a public apology via X for his comments regarding the Argentine president. (corroborated by 15 sources)
- Chilean President José Antonio Kast intervened, stating the incident would not happen again. (corroborated by 4 sources)

## Timeline

### 2026-10-16: Chilean Minister Poduje apologizes after calling President Milei 'crazy

Chilean Minister Iván Poduje apologized after calling Argentine President Javier Milei 'crazy' during a forum on public infrastructure investment.

27 sources. https://clstr.news/cluster/economic-reports-highlight-real-estate-stagnation-and-budget-shifts

### 2026-09-28: Argentina and Colombia face economic shifts as confidence and rates fluctuate

Argentina faces declining government confidence and job losses despite economic growth, while Colombia's central bank raises interest rates to 12.25% to combat rising inflation.

87 sources. https://clstr.news/cluster/economic-indicators-show-rising-inflation-in-spain-and-falling-consumption-in-argentina

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Cite as: Argentine economic and real estate instability. CLSTR, https://clstr.news/situations/argentine-economic-and-real-estate-instability