[Tombstone]

I thought I would add this to the discussion:

California's Housing Affordability Index Falls Nine Points in June to Lowest Level Since November 1989
Median Prices By Region - Current Month vs. Year Ago

Jun-04 May-04 Jun-03
Statewide
Calif. (sf) $469,170 $463,690 r $374,540 r
Calif. (condo) $375,260 $366,560 r $288,490 r
C.A.R. REGION
Central Valley $279,100 $269,500 r $226,960 r
High Desert $225,260 $214,470 $153,840
Los Angeles $445,140 $434,790 $338,360 r
Monterey Region $621,920 $616,670 $495,830
Monterey County $575,000 $569,000 $421,000
Santa Cruz County $599,500 $639,000 $550,000
Northern California $347,980 $349,510 $285,950 r
Northern Wine Country $500,840 $488,210 $433,980
Orange County $657,930 $662,290 $479,410
Palm Springs/Lwr. Desert $346,700 $364,610 $257,140 r
Riverside/S. Bernardino $304,810 $292,060 $222,340
Sacramento $321,480 $306,870 r $251,910 r
San Diego $580,670 $565,030 $419,320
San Francisco Bay $655,990 $649,240 $572,870
San Luis Obispo $436,150 $422,660 $377,540
Santa Barbara County $572,370 $684,780 $389,530
S. Barbara South Coast $1,095,000 $1,100,000 r $822,500
N. Santa Barbara County $386,440 $378,890 $293,530
Santa Clara $642,000 $635,000 $565,000
Ventura $625,000 $614,850 $455,420

na -- not available
r -- revised
Source: California Association of REALTORS(R)