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Riverside County Recovery: Long Ways Off

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Via the Desert Sun: Riverside County faces economic headwinds over the next two years, with another surge in foreclosure activity, minimal employment growth and marginal appreciation in home values, keeping the county's tax coffers lean, according to a report submitted Tuesday to the Board of Supervisors...The market peaked in 2006, when the median home price in Riverside County reached $415,000. Since then, prices have plummeted 60 percent, squashing demand for new construction, the researchers said." [Desert Sun]