are there other variables in a decision such as this, you bet - correct-o-mundo.I think the issue of whether to buy or not isn't a binary yes or no, rather it depends heavily on personal situation, the particular region in California and even the precise neighborhood.
i was speaking directly to his question, "Is the Cali housing market near the bottom?".
based on the limited information i'm familiar with, in a single word, i'd say, "no".