California housing disaster: Home prices down 26% statewide, falling $3000 A WEEK. Prices off 31% in Sacramento and 39% in Santa Barbara

Man, renting was never better than it is today.

Losing $3000 a f*cking week? That's gotta suck. $13,000 a month in capital depreciation, combined with $5000 a month or so in carrying costs, and you've got a $18,000 a month problem. And that's why millions are just going to say f*ck it, f*ck the bank, and just turn in the keys.

Yup, should've listened to HousingPANIC instead of idiot realtors on commission, or the biggest fraud of them all, Leslie Appleton-Young at the California realtors Association.

Hey, we were only trying to help. Meanwhile, California is now going to have a budget shortfall and economic downturn that will shock the world.

California freefall: Home prices fell 26% in February

Signs of distress are piling up in the California housing market, where prices are falling at three times the national rate of decline.

--Statewide, median sales prices fell by a stunning 26% in February, with home prices dropping at a rate of nearly $3,000 a week, the California Association of Realtors reports. Further, the CAR says the Fed's interest rate-cutting campaign "will have little near-term direct effect on the housing market."

"It's bad. It's really bad," market analyst Nima Nattagh told the Daily News.

The California Association of Realtors reports median prices fell 27.2% from year-ago levels in the hard-hit Inland Empire east of Los Angeles, 30.9% in Sacramento, and 39.1% in Santa Barbara County.

FLASH: SOUTHERN CALIFORNIA MEDIAN HOME PRICES DOWN 19% FROM LAST SUMMER

Ouch.

Suzannnnnneeeee!!!!! (enjoy the new remix!)

Home Prices Plunge Across California

The median price in a six-county area of Southern California fell to $408,000 -- the lowest level since October 2004, when it was $402,500. That median is 19.2 percent below the region's peak price of $505,000 last summer, and it's 1.7 percent below January's median, the firm said.

In the nine counties of the San Francisco Bay Area, the median price fell 11.6 percent to $548,000 compared to a year earlier and 17.6 percent from the region's peak median price of $665,000 last summer. Bay Area prices were essentially flat from January.