With half the homes in Temecula being bank-owned and vacant, I would expect crime to go up significantly. Why cook meth in some trailer in the middle of a national forest when you can do it in a nice comfy vacant house?
All those vacant homes are like a siren call to criminals. And you can expect a big property tax revenue drop-off as well. How is Temecula going to pay for all those cops when the the tax revenue base goes to 1/3 or less of its current level? And who do you think your neighbors are going to be when prices get down to the $200K level?
I would only consider buying a rental in Temecula. No way I’d consider buying a place to live there long-term until this whole thing shakes out. The neighborhood characteristics in Temecula could change significantly over the next few years and I wouldn’t want to be stuck there watching it happen.
