News about a global economic slump are everywhere you turn, in both the mainstream and the alternative media.
Try telling this to the kids living in the town of Arcadia, California which has gained the nickname of “the Chinese Beverly Hills”.
Peggy Fong Chen sells high-priced real estate in Arcadia, mostly to buyers from mainland China. The majority of her clients pay for these multi-million dollar homes in cash.
Many Chinese billionaires buy these homes, along with exotic cars for their children, who attend American colleges.
Others infamously use these mansions to house their mistresses.
Whatever their reasons may be, the Chinese elite are buying up American real estate to the tune of $22 billion – in 2014, alone.