When the U.S. housing market collapsed about ten years ago, the carnage was especially severe in Southern California's Inland Empire. Back then home building was booming, fueled in part by risky home loans. You know what happened next; foreclosures, thousands of them. Every street could tell a story. Today we visit one, in Bloomington near San Bernardino, to kick off a series examining how the crisis is still affecting people and communities today. The California Report's John Sepulvado introduces this story from reporter Steven Cuevas.
Yesterday we brought you the story of one street near San Bernardino that's still on the mend 10 years after the start of the mortgage meltdown. On his way out of that neighborhood, The California Report's Los Angeles bureau chief Steven Cuevas spotted a sign with an offer that sounded way too good to be true. "The California Report" host John Sepulvado introduces the story.
Sales of existing homes in Riverside County increased 4-and-a-half percent last month compared to the same time a year ago, even as home prices climbed, according to a report released this week by the California Association of Realtors. KVCR's Ken Vincent has more.
Summer is not only the season of pools and vacations, it's also an ideal time to move. Sure, it's hot outside, but with the kids away from school and stormy weather still months away, it's a good time for house hunting. KVCR's Matt Guilhem reports a new study finds California -- particularly the Inland Empire - to be a less-than-ideal place to buy that first home.