LA Developer: Chinese [Nationals?] Are Buying Up 28% of Altadena

A developer in Palisades and Altadena said that Chinese nationals are calling him and asking to buy up to five or six lots at a time in the fire-ravaged areas. Many of the people looking to buy up Altadena are Chinese companies, he says.

If they are owned by Chinese nationals, that is a concern since every Chinese national must be beholden to the Chinese Communist Party.

Mr. Melchior is concerned that it will become an isolated China Town. He is also concerned about the CCP and Chinese criminals who work with the Sinaloa cartel.

Over twenty-eight percent of the transactions in Altadena are bought by Chinese companies. He pulled the records and these are some of the names he came up with for the 28% figure:

• SHENG FENG GLOBAL
• KIN SUM MING
• LING WANG
• YINGYANG JL USA INC

As he said, the average American is buying property now with the high interest rates. Four percent of the homes are bought by Chinese in cash.

Mr. Melchior said, “This is a full printout of every real estate transaction in Altadena since the LA fires. Tell me, do these names sound American?”

“These account for 28%, over 28% of the total transactions in Altadena.

“So am I fear mongering because historic records say that Chinese nationals bought only 4% of LA Real estate, but in Altadena it’s jumped to 28%?”

He says LA is known as a laundering vehicle for criminal proceeds. He said Chinese nationals are coming here, working with the Sinaloa cartel to launder money through real estate, a favorite of theirs. He asks if no one wants to talk about the CCP buying real estate?