Hmm, Temecula is a nice area. If I could arrange telecommuting three days a week (currently do it one) and work flex time (say 7-3) the rest I might do it (provided good housing hits around 300k). Probably would buy a motorcycle just for the commuting days.
When I used to visit there is seemed an inordinate amount of folks were in RE related businesses (especially construction), so I can see the local economy getting hit pretty hard.