i'd say you're describing something that's pretty obvious on its face.

what's not obvious is this dynamic has been going on for over a century and a half in california and the greater american west in general. the white native reaction was at first the chinese exclusion act, then japanese internment / asset seizure.

the difference is this time the legacy white property owners are cashing out (cashing in?) in a huge way in both sales and rent as asians move in, so you can expect it to continue.

it's white flight, but financially inverted. in other words.... asian gentrification.