30% of fire-destroyed properties in Pacific Palisades have been purchased by Chinese investors

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Governor Gavin Newsom is under fire as reports indicate that nearly 30% of fire-destroyed properties in Pacific Palisades and El Tadino have been purchased by Chinese investors, with some buying multiple lots at once. Analysts express concern that firms like BlackRock are selling to CCP-linked buyers, which could raise housing costs and strengthen Beijing's influence in California. Chinese nationals invested $13.7B in U.S. homes in one year, marking an 83% increase, and critics are calling for federal action to prevent what they see as a "stealth invasion."