Foreclosure situation probably worse than thought

Much has been written about the looming foreclosure problem. Elk Grove is sandwiched between two of the epicenters - Stockton and Sacramento.

But the problem is even bigger because nearly half of recent home sales in parts of California are not sales in the way people typically think of a sale. The actual sales being recorded by your friendly county clerk are foreclosed properties being sold at greatly reduced values.

So for the next several months when you hear the ever optimistic real estate agent say that 'sales' are picking up, ask who's buy them.

As far as Elk Grove is concerned, the foreclosure situation will prove whether or not we have real leaders who will be able to face the coming cash crunch.