I sometimes bicycle around Santaluz and stop to look at the flyers posted at vacant lots for sale. The development began about 7 years ago, and some speculators bought lots to hold as investments. They roughly doubled in price and subsequently fell, to the point now that some are BELOW the original price. In that time the owners have been paying property taxes plus Mello Roos, amounting to about 2% of value. This plus the opportunity cost of the money (or interest cost, if mortgaged) must make them wish they never heard the name Santaluz.
