In that case, you should flip a coin to decide whether you want to buy a house if the house is in relative good condition (no fix-uppers). I think in such situation, you don't want to focus on investment returns. It would turn out to be OK if you can hold it for a good long term (including renting it out if forced to relocate). Other life factors should decide whether you want to buy: e.g. family concerns, job security, etc.