“That is so important” – Shark Tank star Barbara Corcoran praises Jillian Michaels’ efforts in rebuilding California roads

Shark Tank investor Barbara Corcoran recently praised Jillian Michaels’ efforts in streamlining California’s rebuilding process following the wildfires. During an interview on Mornings with Maria on Fox Business News, Corcoran acknowledged the importance of removing bureaucratic hurdles for reconstruction.

Corcoran said in a video clip, posted on her Instagram account on February 7, referring to Governor Gavin Newsom’s decision to suspend certain EPA regulations:

“It's everything. I mean, what he has done is he's wiped away all the red tape, allowing a clean road to rebuilding California. That’s so important.”

She emphasized that without these measures, rebuilding efforts would be significantly delayed.

Barbara Corcoran, a real estate mogul and longtime investor on Shark Tank, also addressed concerns regarding the return of residents to the Pacific Palisades after the wildfires. While real estate agent Josh Altman claimed that 70% of residents would not return, Corcoran stated the opposite, asserting that:

“100% are coming back.”

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"Exact opposite" - Shark Tank investor Barbara Corcoran discusses rebuilding efforts

During her interview on Mornings with Maria, Shark Tank's Corcoran refuted claims that most residents of the Pacific Palisades would not return after the wildfires. Host Maria Bartiromo referenced Altman’s comments about a mass exodus, but Corcoran dismissed the claim.

“I'm hearing the exact opposite,” she said.

She acknowledged that residents might not be fully prepared for the high costs of rebuilding but remained confident in their commitment.

Bartiromo also raised concerns about bureaucratic delays in reconstruction efforts, referencing Michaels’ advocacy for a streamlined permitting process. Corcoran supported these efforts, crediting Newsom’s decision to suspend certain regulations.

“Without that motion, nothing would happen. It would take many more years to rebuild,” she stated.

She further noted that former President Donald Trump had also supported the initiative, emphasizing that multiple parties were working together toward the same goal.

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Shark Tank investor Barbara Corcoran on rising rent prices and California’s wildfire impact

On February 6, Shark Tank's Corcoran shared a clip from her interview on ABC’s GMA3 via her Instagram account. In the discussion, she highlighted the increasing costs of rent and homeownership in the U.S:

“Rents have gone up by 19% in the last five years, and house prices have gone up by 54%,”

She acknowledged that renting was currently more affordable in certain cities like San Francisco, Seattle, Salt Lake City, and New York City. However, she emphasized that buying still provided long-term financial benefits.

The Shark Tank star explained that buying provides several benefits, including a stake in the market, depreciation advantages, and forced savings, which many tend to overlook. She also identified cities where purchasing was more cost-effective, such as New Orleans, Chicago, Pittsburgh, Miami, and Memphis.

The conversation then shifted to the impact of California wildfires on homeowners. Corcoran highlighted the challenges residents faced in securing home insurance. She revealed that her neighbor lost insurance coverage just two weeks before the fire due to a late payment.

“My neighbor, where I lost my home in Pacific Palisades, lost her insurance two weeks before the fire because she was 10 days late on her payment,” she shared.

Another resident, she added, did not have any insurance at all. Corcoran called for a long-term solution to California’s insurance crisis, noting that major insurance companies had requested a 25% rate increase.

“The real issue that nobody's really addressing is the cost of home ownership,” she said.

Reflecting on her personal experience, Corcoran described losing her Pacific Palisades home as a deeply emotional experience. She compared the loss to losing a loved one and said it would be difficult to move on.

She also spoke about community efforts to assist displaced residents, mentioning a GoFundMe initiative providing essential aid, such as rent assistance and medical equipment.

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Shark Tank airs every Friday at 8/7c on ABC.