California’s Most Popular Town for Luxury Homes

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July 31 (Bloomberg) -- It's the hottest real-estate market in California -- where a small patch of property can sell for as much as a Beverly Hills estate. Manhattan Beach is changing from a community of beach bums and bungalows to a destination for big money. Bloomberg goes to the beach to find out why pro athletes, hedge-fund execs, and celebrities are drawn to this four-square-mile city and are willing to wait months, or even years, to find a place in the sun.

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