I grew up in the 'burbs, wanted a house. At the time, the 80's, I couldn't afford one, so I moved to Texas where I could. Right now, given the same circumstances, I'd stay and buy a sub-priced house with the idea that it would increase in value and the city will come back. Of course, I was faster and fitter then, but I've been dang lucky at picking neighborhoods that increased in value after my purchase, so I'd rely on that.