Asa CA realtor, I can't exactly see how CA homes are going to transact.If nobody will write a jumbo loan and only FNM ( = [ $417K) will lend,then to buy a $750K home, which is not exceptionally incredible aroundhere, a buyer is gonna have to put $333K cash down. Obviosuly that'snot gonna happen.

This is only a "somewhat" above low end price point (the absolute cheapest non-condo, detached SF home is $450K)