Elk Grove foreclosures continue to roll

Foreclosures in Elk Grove continue their torrid pace; real estate free fall continues

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For the week ending November 21, 2008, foreclosure notices published in the Elk Grove Citizen showed no sign of letting up.

On a national level, real estate prices continue their free fall.

The S&P Case-Shiller Home Price national index recorded a 16.6% decline in the third quarter compared with the same period a year ago. That eclipsed the previous record of 15.1% set during the second quarter.

Closer to home, it will be telling to see how display ads stack up in the coming weeks for the Citizen. Should we see foreclosure notices continue to outpace ads from local retailers in the all-important Holiday shopping season, it will indicate a weak and worrisome '09 for Elk Grove retailers.