When the home prices get into the 1’s investors with connections buy them up, get the Section 8 deal, and move the ghetto in. See Palmdale, Lancaster, Moreno Valley.
Not as likely in Temecula, but it can happen.
And yes, the impoverished are just fine with The McMansions. See what’s happened to Tuscany Hills and Canyon Hills in Lake Elsinore, Sections of Wildomar, Murrieta, Temeucla, and much of Menifee and French valley. Family and their kids (say 5 conservatively) both sets of grand parents (add 4) throw in a few cousins and extended relatives (3) add the daughter’s new baby and boyfriend (1.5) and now you have 13.5 in the 5br 3000 sq ft home with the garage converted. With 7 cars outside.
And so no one throws the race card out, I have seen this scenario for ALL backgrounds.
Many in the RE blogsphere are rooting for rock bottom prices. The truth is that is not always the best scenario. As pointed out earlier by others, think of who your neighbors might be.
One last point, and we have seen this more than once at REO’s in the area.
When you see a home with linoleum floors throughout (upstairs too) with plant pot watermarks throughout, an extra ac unit and a swamp cooler, central vacuum system that when you hit the wall switch the vents make your hair stand up, all kinds of light fixtures that have been ripped out, guess what this house used to be?
