RISING DOLLARS: A character in Michael Crichton’s...

RISING DOLLARS: A character in Michael Crichton’s new best-selling novel “Rising Sun” quips that the Japanese “are now buying up Orange County.”. . . Maybe he didn’t stretch it too much. Japanese companies have invested $2 billion in real estate here since 1986, the biggest chunk of that in office buildings, residences and hotels. But analysts say Japanese buying peaked in 1990, dropping last year to a five-year low of just $32 million.

Japanese Investments

The Japanese have invested more than $2 billion in real estate in Orange County since 1986 (In millions of dollars):

Offices: $784

Residential: $351

Hotel/resorts: $273

Land: $223

Retail buildings: $154

Other: $236

Source: Kenneth Leventhal & Co.