"10 Hidden Gems in the USA That Will Make You Rethink Your Travel Bucket List!"
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#HiddenGemsUSA #TravelSecrets #BucketListAdventures #ExploreUSA #TravelInspo #Wanderlust #OffTheBeatenPath #DiscoverAmerica #TravelGoals #AdventureAwaits
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#HiddenGemsUSA #TravelSecrets #BucketListAdventures #ExploreUSA #TravelInspo #Wanderlust #OffTheBeatenPath #DiscoverAmerica #TravelGoals #AdventureAwaits
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TravelTranscript
00:00Beverly Hills is practically synonymous with wealth, opulence, and Hollywood. From the
00:05Beverly Hillbillies to Beverly Hills 90210 to the Real Housewives of Beverly Hills, the
00:10town is nothing short of iconic. But despite all of this, it's not immune to the overall
00:15problems that are plaguing California. Some are natural disasters, some are just disasters,
00:21while others involve the politics. Although it's often regarded as a suburb of Los Angeles,
00:26it is actually a city in its own right, with a population of 32,700.
00:31The area now known as Beverly Hills was originally inhabited by the Tongva people,
00:36a Native American tribe. They called this land the Gathering of the Waters,
00:40referencing the region's plentiful springs and streams. And for anyone who's been keeping up
00:45with the news, you know that water is a scarce resource in the deserts of Southern California.
00:50In 1906, the Rodeo Land and Water Company was formed by a group of investors. The company
00:56hired an architectural firm to design the new town, which was named Beverly Hills after Beverly
01:01Farms in Massachusetts. The next year, the first home was constructed. Almost from the start,
01:07the area attracted a highfalutin crowd. Adding to that its proximity to Hollywood,
01:12and this made Beverly Hills a desirable location for movie stars and industry executives.
01:18But what happened to the once symbol of grandeur? Why has it declined from its former glory?
01:22In this video, we'll look at the top nine reasons that have pushed Beverly Hills
01:27into a downward spiral. Number nine is the inability to turn real estate.
01:31The real estate market in Beverly Hills, like many other luxury markets,
01:36has been sensitive to the economic downturns. Recessions, such as the one in 2008,
01:41led to a decline in property value and a slowdown in the real estate market.
01:45High-end properties became harder to sell, and some developments were put on hold or abandoned.
01:51Add to that the pandemic and the current interest rate, and these expensive houses
01:55just aren't moving. With interest rates soaring over 7% unless you're paying in cash,
02:01not many people are willing to pay that high of an interest rate on such an expensive property.
02:06This is the exact opposite of a homeowner's dream in Beverly Hills.
02:10Number eight is the population stagnation, as well as the aging of its long-term inhabitants.
02:15The population of Beverly Hills has been on the decline, and its residents have been aging,
02:20with many long-term residents choosing to stay. The turnover rate of properties is low,
02:25potentially leading to an aging population without the influx of younger residents to
02:30rejuvenate the community. The average age in Beverly Hills is 47 and a half,
02:35which is 11 years older than the city of Los Angeles. Compare that even further with Saratoga
02:40Springs, Utah, a suburb of Salt Lake City, where the average age is only 22. Younger people simply
02:47cannot afford to live in Beverly Hills. Adding to that is the fact that the younger generations
02:52seem to place a higher value on diversity, both economic and racial, something that Beverly Hills
02:58cannot offer. Number seven is environmental sustainability. Concerns about sustainability
03:03and environmental impact are becoming more prominent. With its large estates and resource
03:08consumption, it faces challenges in aligning with broader environmental goals and sustainability
03:14practices. The city is currently in a water conservation stage C and has been since 2017.
03:20This means residents could only water their lawns two days a week from October to May,
03:24and three days per week from June to September. Like much of California, water is a precious,
03:30limited resource, and all of the Beverly Hills' riches are no match for Mother Nature.
03:35Number six is the cost of housing. The exceedingly high cost of living and property
03:40prices have made it difficult for younger generations and middle-class families to
03:44afford homes in Beverly Hills. This has led to concerns about the sustainability of maintaining
03:49such a high-end market without broader demographic appeal. Currently, the median home listing price
03:55is $6.2 million. Compound that with the high interest rates, and you can see why even the
04:00ultra-wealthy may not see the value in property that will eventually be hard to sell,
04:05as discussed in number nine. Currently, the smallest home for sale in Beverly Hills
04:10is a studio at only 550 square feet and is listed at $749,000. Compare that to the most expensive
04:19listing, which comes in at a whopping $126 million. To be fair, it's 30,000 square feet,
04:26but still, in this economy, those luxury homes just aren't moving. That house has been on the
04:31market for 194 days and is still listed. Number five is crime. The words crime and
04:38Beverly Hills have likely never rolled off your tongue, but here we are. With a crime rate of 49
04:44per 1,000 residents, Beverly Hills has one of the highest crime rates in America compared to
04:49all communities of all sizes, from the smallest towns to the very largest cities. It is safer
04:54than only 3% of other cities. Its violent crime rate is higher than the national average,
05:00and its property crimes rate is more than double the national average. The crime rate per square
05:05mile is 10 times the national average. Number four is tied to number five, and that is the
05:10decline of businesses. When crime goes up, particularly property crime, many store owners
05:16back up and leave. Beverly Hills is a shell of its former self. The one-time mecca for shopping
05:22is now a virtual wasteland, reminiscent of a post-apocalyptic scene from The Walking Dead.
05:27The closed shops, which also include convenience retailers like Rite Aid and Chipotle, and even
05:32popular workout class options SoulCycle, are just a few of those that chose to close their doors for
05:37good in Beverly Hills. Some of the closed businesses also include luxury staples like
05:42Barney's New York and Chanel. With California going easy on crime, shoplifters aren't even
05:48hiding their crimes anymore. If you search the internet for shoplifting and California,
05:52you'll be inundated with videos where security guards and store employees just stand there and
05:58watch. Many have argued that shoplifting is basically de facto legal in the state,
06:03and Beverly Hills is not immune to this. One store was so fed up with all the shoplifting
06:08that they created their own shoplifting wall of shame. The store has started displaying large
06:13mugshots of shoplifters on the windows of their main store on Robertson Boulevard as part of a new
06:18public shaming campaign. Number three is homelessness. This may seem like a ridiculous
06:24reason given that cities all across the country have seen a surge in homelessness. The pandemic
06:29threw life into an unprecedented sense of uncertainty, and job loss soared. Many people
06:34also point fingers at the migrant crisis, which is creating an influx of people without a home.
06:39For decades, Beverly Hills was immune to this with its strict local policies and a lack of
06:44infrastructure to attract the homeless population. But now, even Beverly Hills has fallen prey to the
06:50crisis. The homeless population has soared 45% over the past year in some of LA's wealthiest
06:57neighborhoods, including Beverly Hills. The city has approved a $14 million 10-year plan to help
07:03with the problem. And although there are only a handful of unhoused people sleeping on the streets
07:08of Beverly Hills proper, the presence of any have tainted the city's reputation. Number two are
07:14squatters. A squatter is legally defined as a person who unlawfully occupies an uninhabited
07:20building or unused land. Squatters' rights have been a focus in the news lately, as they torment
07:25landlords across the nation. Many argue that squatters have more rights than the homeowners,
07:29as getting rid of them can be costly, timely, and frustrating. In some cases, a tenant just
07:35stops paying rent and refuses to leave. In the case of Beverly Hills, one famous squatter home
07:41has been plaguing the town, leading to bigger questions about protections for the city's legal
07:46residents. A group of squatters have allegedly taken over a vacant house in Beverly Hills and
07:51turned it into a party house, creating a nuisance by disturbing residents in the area. Residents
07:56complained of traffic jams on the quiet street, rideshare cars coming and going at all hours,
08:01and extreme levels of noise. This has put the residents on high alert. Property damage and
08:06theft were way up, thanks to the random comings and goings of the house. There's an increase in
08:11smash and grabs in Beverly Hills, home invasions in Bel Air, and carjackings in Santa Monica.
08:17The neighbors of the squatter house claim that someone from the DA's office, apparently having
08:22heard about the situation at the infamous squatter house, remarked, squatters have rights. This did
08:28not sit well with residents of the wealthy enclave. Welcome to California, one resident wrote
08:33on social media. And number one is the real housewives of Beverly Hills. Wait, what? How could
08:39a TV show lead to the downfall of a city? Many people think that the cast of Jersey Shore are
08:44elevated to the level of housewives for having their own TV show. But the reality is that the
08:49housewives are more like Jersey Shore. Most people, despite secretly watching and enjoying the show,
08:55would argue that it's trash TV. Hollywood stars display their lives on national television and
09:01reveal themselves as everything from sloppy drunks to unfaithful spouses. The lure of the rich and
09:06famous was seriously diminished when the show first aired back in 2010. It has continued with
09:12a rotating cast of rich women. Some are famous actors, while others are married to famous people,
09:17but all were rich. Instead of classy brunches and elegant vacations, what the show revealed
09:23was that Beverly Hills is just a richer version of West Virginia.