|For video click here.|
About a year ago we posted the following edgier video content about Arcadia. It comes from a website that calls itself Vocative and is titled "How an Upscale California Suburb Became the “Chinese Beverly Hills.”
|For this video click here.|
Vocativ's verbiage: "The town of Arcadia, California, has gained the nickname “The Chinese Beverly Hills.” Peggy Fong Chen, who makes a living selling high-priced real estate in Arcadia, says that almost all of her buyers are from mainland China, and almost all of her clients pay for their multi-million dollar homes in cash. Many Chinese billionaires buy these homes along with exotic cars for their children attending American colleges. Others use these mansions for the less wholesome purpose of housing their mistresses. Whatever their reasons, the Chinese elite are buying up American real estate like never before–to the tune of $22 billion last year alone."
|Video click here.|
BBC: "China's economic challenges have implications far beyond the country's borders. For instance in the United States, wealthy Chinese tourists and immigrants have transformed Los Angeles' San Gabriel Valley. A generation ago, the area was predominantly white. Now it's majority Asian and Chinese businesses dominate the suburban landscape. But China's economic instability has many there on edge. Regan Morris reports from the area known as the Chinese Beverly Hills."
Once more. This one comes to us from Bloomberg Businessweek.
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Bloomberg: "In South Pasadena, California, an estimated 1 or 2 homes will be demolished this year and replaced with mansions. Just a few towns away in Arcadia, that number jumps up to 150 homes. Many of the new residents come from China’s rising millionaires. Bloomberg Businessweek explores why."
The CNN Money video is new and currently running on their cable news outlets. The others are from mid to late 2015 and predate the recent Arcadia City Council elections.