Good point about the multiple home purchases by unskilled investors. I know two people that own 3 homes in mine. One bought them all in 1999 and has rented them out the whole time. The other has moved 3 times paying cash for each of them as his business grows. In Temecula there was a massive amount of speculation by unskilled investors using liar loans and that did a lot more damage than well employed folks who walked after the drops already occurred.