apparently you can move out to Baltimore and pick up something real cheap
http://articles.baltimoresun.com/2011-08-20/business/bs-bz-baltimore-region-housing-market20110821_1_metropolitan-regional-information-systems-average-sale-prices-housing-prices

In general, i don't think you can rely on what used to be normal where your house continues to gain in value while you own it.  The fact that it happened for so long was for many different reasons.  Inflation, mortgage investments, actually making physical improvements to the house thus driving up the value, etc.  But now with the recession, you can't *expect* the house to keep its value and/or go up in value.

With that in mind where is the equity you are supposedly building?  Obviously it all depends on where you live.  Some areas never felt the housing bust, others were devastated by it.  But in general, what used to hold true may not necessarily be taken for granted any longer.

Instead of buying a house thinking it's an investment, now you must look at buying one for the other merits that you want, regardless of what they may be.

For me, the value in not having to lift a finger to maintain my apartment is worth it.  Too many people buy a house when they shouldn't because someone, somewhere, told them that they should.  If I had bought a house many years ago, I would only have been able to afford a place that I would most likely hate.

apparently you can move out to Baltimore and pick up something real cheap
http://articles.baltimoresun.com/2011-08-20/business/bs-bz-baltimore-region-housing-market20110821_1_metropolitan-regional-information-systems-average-sale-prices-housing-prices

Just like every city you can buy Crap property at low prices. Is this a dig at where I live?
Also, for Baltimore being a Crap city that I know it is, how did Harrisburg lose?
http://www.cityclash.org/rankings/verdict/393028/Harrisburg/USA/Baltimore/USA

For me, the value in not having to lift a finger to maintain my apartment is worth it.  Too many people buy a house when they shouldn't because someone, somewhere, told them that they should.  If I had bought a house many years ago, I would only have been able to afford a place that I would most likely hate.

It's also easier to justify living somewhere that's easiest for yourself when you don't live with someone and if you are legally bound to that person it makes it even more difficult.

In general, i don't...But now with the recession, you can't *expect* the house to keep its value and/or go up in value.

With that in mind where is the equity you are supposedly building?  Obviously it all depends on where you live.  Some areas never felt the housing bust, others were devastated by it.  But in general, what used to hold true may not necessarily be taken for granted any longer.

Instead of buying a house thinking it's an investment, now you must look at buying one for the other merits that you want, regardless of what they may be.

...I would only have been able to afford a place that I would most likely hate.

No! If you are correct it is in relation to timing.  The market goes up and down, I'm not saying we've hit bottom.  But we are most likely close, so your home as an investment can ONLY go up.

http://www.zillow.com/homes/harrisburg,-PA_rb/#/homes/for_sale/Harrisburg-PA/11817_rid/0-10000_price/0-38_mp/40.328763,-76.703956,40.235523,-77.056892_rect/11_zm/1_fr/

I hope that link works... But there are 139 for sale under 10k.

The Zillow link isn't an accurate count for either Harrisburg or Baltimore because a lot of foreclosures are listed as N/A and therefore are listed as <10,000.

No one ever made the comment that one city was better than the other; trust me, if you live in Harrisburg you are well aware of the Craptiness of that city (which is why you'd be a fool to actually live in the city). The areas surrounding Harrisburg are actually quite nice, just not the city of Harrisburg itself. I'm sure the same could be said for many cities across the US. I wouldn't want to live in LA, but Beverly Hills is nice. I wouldn't want to live in Detroit, but [insert name of suburb here] is much nicer

FiveAces, where'd you grab that chart from? I'd like to take a look at how my own numbers would come out.

Nevermind, I found it with my Google-Fu. http://www.ginniemae.gov/rent_vs_buy/rent_vs_buy_calc.asp Note: It does not seem to work in Chrome, had to open FireFox for the calculations to show.

HAHA precisely why i moved AWAY from Harrisburg.  Nothing of interest there.  Move along...

except this 3 day geek party every year in February.  Thats the only reason I visit :D

To put things in perspective my grandparents sold their house on 29th st in harrisburg about 15 years ago.  4000sq ft, 4 bedrooms 1.5 baths, full basement and attic, 1/4 acre lot, detached 2 car garage. wrap around porch, screened in sun room for 75k.

Thats a million dollar home out here in bucks county.