Raptorduck,
I was not disagreeing with you either. I was also lamenting what that kind of money buys and how factors other than the current melt down everywhere else can also contribute to the strange and distorted pricing.

I was fascinated by the thread talking about multiple bids on very expensive homes in the Bay Area and the discussion regarding what is driving it. It has been an education to me reading about what drove the bubble.

I ALWAYS used to wonder who the hell was buying all these homes for the ridiculous prices they were paying and now I find out they could no more afford it than I could afford a home in the Bay Area! My ex and I made great money together and never would have bought a home at that price. (Well, to be fair, I wanted more house! but he prevailed.)

Family is pressuring me(in a loving way )to buy in San Diego but never would even have thought of it until now, but I do love Temecula and will probably stay.