Industry NewsMarkets & Economy

Kiss your home — and latte — goodbye

From blog
Published on Mar 27, 2009

Get Inman via Facebook Messenger
Our top headlines delivered once a day.
by CareyBot

LOS ANGELES -- The trickle-down effect of the foreclosure crisis is being felt acutely by coffee-drinkers in the down-and-out Inland Empire, reports Reuters.

When middle-class families were moving into the new tract houses of Riverside and San Bernardino counties a few years back, Starbucks engaged in a massive expansion project, opening stores in new strip-malls catering to the developments. But when the market crashed (Riverside County holds the eighth-highest foreclosure rate in the nation) and people moved out or failed to move in, there