nearly 70 percent can afford entry level homes in california

"The percentage of households that could afford an entry-level home in California rose to 69 percent in the first quarter of 2009, up from 46 percent a year ago, according to CAR... However, that doesn’t mean it’s necessarily the right time to buy, especially with home prices expected to drop another 36 percent in the state over the next 12 to 18 months."