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...
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