yup.... well not some areas... but most areas...the areas one would like to live in... well not unless your homeless and decide to pitch a tent on our sidewalk.
Bay area... los anageles, san diego, fullerton, most of the areas outside farmland or cow country will be majorly inflated. Prices went down, but they have started to inflate majorly.
Well not unless you enjoy looking at 3bdroom houses which start at 800k-1million, and rent for 2 bedrooms is on average 2600-3200 dollars/mo, unless we look at the really bad areas.