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 was no one to buy caramel macchiatos.

Show Comments Hide Comments


Sign up for Inman’s Morning Headlines
What you need to know to start your day with all the latest industry developments
Thank you for subscribing to Morning Headlines.
Back to top