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California Community Hit Hard by Economy’s Fall

Residents of a once-prosperous California community are feeling an economic pinch as home foreclosures, the credit crunch, low consumer confidence and high oil prices have hurt the U.S. economy.

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  • JEFFREY KAYE:

    John Vlasic, the owner of a trucking and warehousing company, has lived in the community since 1972. He says growth brought change to once-sleepy Rancho Cucamonga.

  • JOHN VLASIC:

    It brought a lot of money to the area. And I think that it brought a lot of people that liked nicer things, and that spurred the shopping and the restaurants and the higher-end stuff. They were really trying to position themselves as one of those elitist kind of cities.

  • JEFFREY KAYE:

    The real estate boom was the engine for much of Rancho Cucamonga's growth and prosperity, and nearly everyone in this community that straddles the old Route 66 seemed to be along for the ride.

    RON VANDENBROEKE, restaurant owner: They love it, spend money like crazy. It was no big deal.

  • JEFFREY KAYE:

    Ron VandenBroeke is the owner of Omaha Jack's Grill House and Brewery, a restaurant that was a favorite hangout for the area's once high-flying real estate agents and property speculators.

  • RON VANDENBROEKE:

    The real estate market was great for us, because a lot of those people found Omaha Jack's as a nice place to go and relax, spend some money, treat a client, you know, bring their families.

  • JEFFREY KAYE:

    Celebrate a sale?

  • RON VANDENBROEKE:

    Celebrate a sale. You're selling two a day then, so it didn't matter. Every day was a celebration. They threw money around like it was nothing.