My grand father had a 10 acre farm in the San Fernando Valley in the 1930’s right where Warner Center is now (50 story office buildings incase you are not familiar with that local),
The San Fernando valley looked a lot like Palmdale Lancaster area in the 1930’s
In 1980 irvine was mostly farm land
In 1970 Valencia CA Population was about 15 thousand.
The theme here is very fast growth over a very long time period in SoCal .
So If you get your chance to buy a home during this downturn (how ever long it lasts)