So…back to my original thought: with all of the homes that were built – to accomodate those who wanted the bigger place and didnt mind the commute – but what happens now that the market is downturning and people are not as willing to drive hours every day to get to work?
A few years ago, Temecula also attracted a large number of speculators from SD county. This is why there are so many empty houses in Temecula. Most of the houses bought by the speculators will end up as foreclosures.
Places like Temecula (where there is excessive inventories) are likely to become targets for "vultures". These "vultures" are investment funds that buy properties in bulk (dozens or more at a time) from lenders at bargain prices & rent them out
This is already happening in other parts of the country:
