bsrsharma, I stay here because I have a good job at a good company and I love the area. If I ever need to buy a place, I’ll go where I can afford it. Some day, that may be right here in So Cal.
The only thing that would change my mind is if prices in other places I would be happy to live in were rising beyond my reach, and I had to buy now so as not to be “priced out forever”. Right now, I am feeling pretty comfortable because prices are doing anything from falling slowly to rising slowly in the places I might move to.
(By the way, my current first choice of affordable alternatives to So Cal is Vancouver, Washington, just across the river from you.)