As a side note, I sold my last house in the DC area about 6 years ago – big mistake.
Unlike Temecula, the DC area RE prices have held up comparably well.
If I loose my job here in SD, I’m going back.
And there are plenty of great areas outside of the beltway – Reston is one example.
And of course things (economy, etc…) are somewhat better in the DC area, why you ask? Because the DC Area is a rotating black hole that sucks in money from the rest of the country.