That was not in SD. Back then I lived with the folks in the IE. The development was the Moreno Valley Ranch. It had a 27 hole Pete Dye course and a bazillion homes, a big lake and community clubhouse etc. The tract with the big houses right next to the little ones was right beside the lake. All those folkes bought big homes on the lake with docks in the back yard for their teeny weenie sail boats. Those homes were costing upwards of 360K (in 1990!). It was sad, at the time the development was attracting lots of fairly well off retirees that were cashing out from LA and the OC. They were buying big homes and decking them out will pools and all the toys. Then the slump hit and sales stopped. The developer sat on them for about a year then cut the price from 360K to 180K! After they dumped the last of the big houses the remaining lots sat empty for about a year and then the started building the small homes. The folks still live there and it’s actually still a fairly nice area. In the last 5 or 6 years they build another gazillion homes around there and the prices had reached the stratosphere. I expect to see a repeat of the early 90s. There are builders still trying to sell 750K tract homes there. And they are grading a HUGE development for “executive homes” that are supposedly going to be around a million dollars. HAHAHAHA is all I have to say about that. I’de put money on that development being a large graded wasteland for the next 10 years. Oh wait, they changed the name of that part of the city. It’s now going by the rather swanky name of Rancho Bellago. That’s gotta make it easier to drop a mill now that it not MoVal.
