Got $100K?

You'll need it to buy a median-priced home in California. Looks like there's about an even chance of getting hit by lightning and owning a home, for many if not most state residents.

Should this be decried or celebrated? What might shifting to a renter's market mean?

It could mean people become less tied to their property and more strongly fixed on other things. As owning your own home -- the much-vaunted American dream -- evaporates, something else might take its place. Something with just as much, if not more substance.

It's a thought.