The place is old, a dive, right behind a gas station and right next to the freeway, but at $57 a square, 99k for a rental that probably goes for 1000-1200/mo.
Carlsbad, SFR’s are already at or below $100 a square, markets aren’t based on building costs and logic, they are based on emotion so they will defy logic, either higher or lower than true value. If your question is most of the air out of the Temecula tires, yes, most is. There is probably a little left to go but it’s close. Now that some price falls are hitting Esco, if it spreads to the rest of North County, it will take a tad more out of Temecula because people wont need to flee the higher prices.
