Take Two for September 17, 2013

Five years after the housing market crash, the Inland Empire sees a construction boom

KB Home 5

Ben Bergman/KPCC

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.

KB Home 2

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 3

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.

KB Home 4

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 1

Ben Bergman/KPCC

KB Home has a post-recession sales pitch. Ostentatiousness is out. Affordability is in.

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

blog comments powered by Disqus