Celebrity realtor Mauricio Umansky slams Los Angeles mayor over ‘tremendous mistake’ on rent control

Celebrity realtor Mauricio Umansky, founder and CEO of The Agency, didn’t hold back during an appearance on FOX Business’ "Varney & Co.," slamming Los Angeles Mayor Karen Bass (D) for what he called a "tremendous mistake" in doubling down on rent control. The city recently imposed a new 4% cap on annual rent increases for certain rent-stabilized units – a move the mayor says will protect tenants from steep price hikes. Umansky argued while the policy might sound good politically, it does nothing to solve the city’s long-term housing crisis."What rent control does is give short-term relief