New York property owner opens up about the impact of rent freezes

New York property owner Humberto Lopes says expenses went ‘so far ahead of the income’ on ‘America Reports.’

New York City Mayor Zohran Mamdani celebrates the Rent Guidelines Board's approval of a rent freeze, impacting a significant portion of the city's rental stock. Property owner Humberto Lopes warns this decision will hurt landlords due to rising expenses and zero rent increases. He discusses the potential for buildings to deteriorate and broader economic consequences for New York City.