Starbucks has released its full list of store closures. During the quest to have a Starbucks on each corner many were opened in areas that showed large growth in residential homes. I suspect that the areas being closed had large numbers of building permits during the real estate boom. Starbucks probably used the number of permits as a gauge for the amount of growth in population expected. As we all know now, many of these numbers were deceptive. Much of the homes were actually vacant and being purchased by speculators (notice I did not say investors) and flipped for profit to more speculators. Homes that were being flipped to other speculators often were never lived in. This occurred a lot booming areas such as Temecula and other Inland Empire cities which are now suffering most of the real estate slump.
Click on graph for larger image
A total of 617 stores are on the list with California closing the most followed by Florida and Texas. 88 (14%) stores in California, 59 (10%) in Florida and 57 (9%) in Texas.
Visit the full list of store closures and to see if your favorite store is being decaffeinated.
Some of the local cities that are getting store closures are:
The list includes stores near the neighborhoods of Sierra Lakes in Fontana and Dos Lagos in Corona.
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