Case of shrinking US mansion roils brokers

[LOS ANGELES] Millionaire Hiroshi Horiike has spent two years searching California for a dream home, one grander than any he could find in his native China.

After visiting more than 80 properties in the Los Angeles area with an agent from Coldwell Banker, Mr Horiike paid US$12.25 million in cash for a four-bedroom, six-bath Tuscan-style mansion with a swimming pool, spa and guest house on 2.1 hectares overlooking the Pacific Ocean.

There was just one ca…