Lisa Simpson
Jan 11,2008
In: Foreclosures

Riverside California Foreclosures

The headlines lately are full of Riverside California foreclosures. Riverside is the name of a city as well as the County in California hugging the Santa Ana River. The citrus industry made its debut here. It is the largest city in the Inland Empire of California. To understand the rising curve of Riverside California foreclosures many things have to be taken into account – economics, demography, politics and social forces.

Riverside California foreclosures are not just about figures and statistics. Why are the figures what they are and what can be interpreted from these? The population consists of nearly 46% Whites and 44% Hispanics while the rest comprise of Afro-Americans, Asians, Native Americans etc. Riverside California foreclosures are on the rise and the charge is often made that discrimination has been made against the blacks, the elderly and those coming from the weaker section of society who are not conversant with English and financial strategies. This has led to a spike in Riverside California foreclosures.

To counter these claims about Riverside California foreclosures it may be said that California is one of the most prosperous regions of America. Then why are there so many Riverside California foreclosures? The city was founded in 1870’s by a staunch abolitionist John North. From then on the navel orange unfolded a story of commercial success. But soon the days changed from when few saloons were allowed to operate. Success brought in its wake greed and grabbing. This has led to Riverside California foreclosures to rise.

In the past Riverside California foreclosures was not unknown – foreclosures have always been there. But the recent abnormal shooting up of the numbers of Riverside California foreclosures has caused concern. It is not just Riverside California foreclosures but the entire State of California is reeling under it – in fact California tops the list. In August 2007 one out of 96 houses were foreclosed in Riverside. Riverside California foreclosures made it rank 4^th in the State and the county with the maximum number of foreclosures. A comparison of Riverside California foreclosures shows that in 2006 only 21 houses were foreclosed as against 1,198 in 2007! Many regret that although Riverside California foreclosures are on the rise non-profit organizations and government are not doing much to check the menace. In November there was a slight pause in Riverside California foreclosures but it was higher by 300% since November 2006. In the county 6,122 listings were recorded in October 2007.