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Take Two

Wealthy Chinese citizens buying up California real estate

By Take Two Staff
Published Sep 28, 2012
Los Angeles suburbs with cul-de-sacs surrounded by freeways.
Los Angeles suburbs with cul-de-sacs surrounded by freeways.
(
Amit Patel/Flickr
)

Take Two translates the day’s headlines for Southern California, making sense of the news and cultural events that affect our lives. Produced by Southern California Public Radio and broadcast from October 2012 – June 2021. Hosted by A Martinez.

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Listen 12:17
Wealthy Chinese citizens buying up California real estate

Rich business people from Mainland China are snapping up high-end real estate in California. Their location of choice: San Marino.

Real estate agents there say perhaps 90 percent of all sales are now going to Chinese buyers.

We talk to the BBC's Rajesh Mirchandani, who says these buyers almost always pay in cash, and some worry their driving up real estate prices and changing the nature of the community.