Isn't the Inland Empire amongst the top three forclosure zones in California right now?
I think the developers will be scrambling to fill new construction of any condos,luxury or not.
The reason the IE saw such a population boom was cheap notes-easy financing for a lot of folks that should not have been granted big credit.They saw an oportunity to own the American dream-a single family residence(not a condo)-and now this is slipping away from them because they really could not afford it but were blinded by easy financing.
The building boom in the IE is over-Just look at KB's big loss this year.

If you want to buy in a commercial strip in an area that will have problems suporting high end retail-have at it,but you might want to wait a few months for the prices to drop.

I just do not get anyone who does not have to live there wanting to live there.It is a filthy windy place with horrible air and nothing but strip malls (luxurious ones in some cases)and lots of nasty folks.