Stuart Varney welcomes Mauricio Umansky, founder and CEO of the Agency, to discuss the California gubernatorial debate between Steve Hilton and Xavier Becerra. They analyze housing issues, red tape and the Los Angeles mayoral race.
California business owners need confidence and the ability to reinvest in the state’s economy, according to real estate mogul Mauricio Umansky, who argued that “bringing business back to California is essential” as voters weigh competing visions for the state’s future.
The agency’s founder and CEO joined FOX Business’ Stuart Varney on “Varney & Co.” to discuss the Golden State’s economic challenges and the 2026 gubernatorial race between Democrat Xavier Becerra and Republican Steve Hilton.
Agency founder and CEO Mauricio Umansky discusses California’s business climate and the need to restore confidence and investment in the state. (Nathan Congleton/NBC/Getty Images)
Affordability and the business climate have become major issues in California, where high housing costs continue to put pressure on residents and businesses. Research by the Public Policy Institute of California also found that corporate headquarters of companies leaving the state are often moved to places with lower taxes and regulation.
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“You know, I think what’s important is … creating affordable housing. I think that’s essential in our world and it keeps the economy growing. I think it’s essential to bring businesses back to California. And that’s really what we need to focus on right now,” Umansky said.
‘Varney & Co.’ Host Stuart Varney details the economic challenges facing California, including high gas prices, soaring electricity costs and high taxes that are driving out the state’s residents on his “My Take.”
Hilton campaigned on cutting taxes and regulations, while Becerra proposed declaring the housing shortage a state of emergency and directing state agencies to prioritize housing production and affordability if elected governor.
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Umansky said business owners need greater confidence in their ability to reinvest in California and its economy, while recognizing that changes would take time.
“None of this can be fixed overnight, can it? But we have to start taking small steps,” he said.
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The real estate executive also raised concerns about policies put forward by Los Angeles mayoral candidate Nithya Raman, a member of the Democratic Socialists of America, saying he believes her policies could make it harder for businesses to invest in California.
“As a business owner…I am concerned about the policies that she (Nithya Raman) will implement and impose on us. I mean…Enough is enough. We need to start…Motivating people.
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