I remember Temecula when it was Rancho California.
It was a commuter town when it started. Cheap and people commuted either to L.A., San Diego, Riverside or San Bernardino. Slowly at first, but accelerated in recent years, it became a self-sustaining city w/hospitals and courthouse and all the businesses associated w/most cities. Jobs were created along w/housing.
The artificially created prices is the most damaging thing to happen to these towns. People relied on equity to support a new lifestyle. Clearly not sustainable. I agree that prices will have to return to normal for things to be balanced. That doesn’t mean it will happen. Ideally, it should and if it did, it would solve a lot of problems.
They said the bubble wouldn’t pop and they are doing their darnest to drag this out, letting the air out slowly and gently and painfully long.
