10 Years Ago Today . . .
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. . . Would-be homeowners lined up outside sale offices for a chance to buy a home in the new 5,000-acre community of Rancho Santa Margarita.
About 2,500 competed in the lottery for a chance to buy one of 425 homes priced from $56,000 to $175,000. Planners said they expected the community to have a population of 50,000 by the turn of the century.
Source: Times archives
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