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Podcasts Take Two
Five years after the housing market crash, the Inland Empire sees a construction boom
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Sep 17, 2013
Listen • 5:07
Five years after the housing market crash, the Inland Empire sees a construction boom
There were few areas of the U.S. harder hit than the Inland Empire by the Great Recession. But now the region is seeing housing prices soar and construction roar back.
One of the homes KB Home is building on the eastern edge of Temecula. New home construction has risen by 40 percent since last year in the Inland Empire.
One of the homes KB Home is building on the eastern edge of Temecula. New home construction has risen by 40 percent since last year in the Inland Empire.
(
Ben Bergman/KPCC
)
KB Home hopes to have 98 homes built in Temecula by next year. It plans to build more than 1100 in future years.
KB Home hopes to have 98 homes built in Temecula by next year. It plans to build more than 1100 in future years.
(
Ben Bergman/KPCC
)
Amber and Matthew Welte bought their house just 8 months ago in neighboring Murietta. Since then it’s appreciated by $80,000, and now with a second kid on the way, they’re ready to trade up.
Amber and Matthew Welte bought their house just 8 months ago in neighboring Murietta. Since then it’s appreciated by $80,000, and now with a second kid on the way, they’re ready to trade up.
(
Ben Bergman/KPCC
)
KB Home, and two other companies are racing to build on the eastern edge of Temecula at a massive development that was first approved in 2002, but never got off the ground before the recession hit.
KB Home, and two other companies are racing to build on the eastern edge of Temecula at a massive development that was first approved in 2002, but never got off the ground before the recession hit.
(
Ben Bergman/KPCC
)
KB Home has a post-recession sales pitch. Ostentatiousness is out. Affordability is in.
KB Home has a post-recession sales pitch. Ostentatiousness is out. Affordability is in.
(
Ben Bergman/KPCC
)

There were few areas of the U.S. harder hit than the Inland Empire by the Great Recession. But now the region is seeing housing prices soar and construction roar back.

Five years ago Lehman Brothers filed for bankruptcy, the U.S. economy plunged, and the national housing market tanked

There were few areas of the country harder hit than the Inland Empire, but now housing prices are going up and more homes are being built. Could this mean an end to the Inland Empire's reign as foreclosure capitol of the U.S.? 

KPCC's Ben Bergman reports.