I’m not a resident, but we’ve been spending some weekends there, and in Temecula I see a mostly well-managed city with genuinely nice homes, neighborhoods, and schools. I take a special interest in urban planning (would like to start my own off-shore dictatorship someday), and the population explosion was not well-planned, but the same can be said for the entire county of San Diego.
I can’t see prices dropping further and further until Morgan Hill homes are owned by the local 7-11 cashiers – it just won’t happen. Those are the “owners” that are now being removed, as they should be. I expect the monster truck quotient to drop in many of the higher-end areas, and I would guess fall/winter of 2009 as being within 5% of the price bottom, but a lot of good deals will be had later this year. We’re almost ready to leap.
