Affordability has about TRIPLED, check this out...

The Housing Affordability Index (HAI) in LA County went from 11% in the Q4 2005 to 30% in Q4 2008 (and has probably increased when Q1 2009 data is published). HAI measures the percentage of households that can afford to purchase the median priced home, and is regarded as the most fundamental measure of housing well-being. Shoot me an email and I can get you the most recent stats.