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Diamond Bar, California is a city of approximately 55,500 people in Los Angeles County. It is an affluent city with the average home income being $87,224. It derives its name from the trademark once used by Frederick E. Lewis on his branding iron.
Despite the city’s affluence there it struggles with a number of financial issues. Many of them began during the recent recession and have not yet fully resolved. Of note is the fact that many residents are working with a Diamond Bar bankruptcy attorney to absolve themselves of their debts.
The land where Diamond Bar is located was once owned by Jose de la Luz Linares. He received nearly 4,500 acres in 1840 from Juan Alvarado, who was governor at the time. Shortly after his death the land was divided into plots and auctioned off. Most of it was purchased to be used as cattle ranches.
In the 1950’s Transamerica Corporation purchased much of the farmland and began converting into the country’s only master-planned community. It sold most of its rights to the land throughout the ‘70s and ‘80s to various real estate developers who did not follow the originally formulated plans.
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The largest employers include South Coast Air Quality Management, Allstate, and Travelers. Many are struggling to find work that can meet the demands of their formerly affluent lifestyles, though. Since they can no longer bear the burden of the debts they once accrued they are working closely with Diamond Bar bankruptcy lawyers to eliminate them and move on with their lives.
There are a number of professional athletes residing in Diamond Bar, including Jason Wright, Armon Hatcher, Ryan Wendell, and Keith Van Horn, amongst others.