I’m in the same boat waiting on the sidelines with a 7 month old baby. I’ve told her that I won’t buy until the majority of people I ask say they don’t want to buy houses anymore. I keep asking people and it’s gone from 0 out of ten to 1 out of ten currently. When it passes 50% I’ll be ready to jump in.

That time is coming but probably along with 15%+ unemployment and tougher times. As for buying in Temecula I would be very careful on the timing. The 1+ billion dollars in mortgage fraud (ponzied) bought homes need to be unloaded and buying in before they are could be costly short-mid term.