[quote=carlsbadworker]Folks, let’s not be carried away into another discussion about whether Temecula is hell or heaven. For the near term, I do think Temecula has more downward price pressure than San Diego. My theory is that the jobs held by Temecula residents are mostly marginal jobs. And that’s why they are paid less than the best jobs in a company, forcing them to pick Riverside as their home.[/quote]
Kind of a sweeping generalization, don’t you think? Many Temeculans commute to SD county (note the traffic south in the morning) and have very stable jobs. I work in Carlsbad, and of the 7 people in my department, 3 of us own in TV (one in Murrieta), including my boss. None of us are forced to live there. My wife and I chose Temecula purely because it’s such a great value. Our mid-100’s income doesn’t approach some of the e-ballers on this site, but it’s enough to live in San Diego, and we choose not to. The money we save will not only put the kids through college, it will buy a lot of rental property and put a new Cayman in the garage (some things are more important than the weather).
I can see TV prices dropping a little in the next few years, but like someone said, you can only go so far south before investment halts it (barring some long-term economic disaster like Detroit experienced, of course). Right now, just about any sub-$250k property you buy in Temecula will cash flow well with 30% down.
As for San Diego having less downward price pressure, I don’t believe that for a minute, but we’ll see in the next few years.
