Keep in mind that the number of speculators in Temecula far exceeds that in San Diego. This is why things deteriorated much faster in Temecula.
In SD, for example, take 4S Ranch. I think the bloodbath will occur in 4S in mid to late 2009. But the “bottom” for 4S will be in 2010. Now, there are other areas in SD that are nicer than 4S (like Solana Beach, CV, LJ). These areas will reach the “bottom” after 2010.
