Don't you know it. Most of my post-tax income goes directly to savings awaiting the day when housing prices come back to reality.
As soon as someone figures out how to make renovating the cities fashionable and profitable (and it sinks in that fuel prices are not coming down any time soon) the tide will turn.
If you set yourself up so you don't have to spend much time in town, or your mileage is tax deductible (contractor to jobsite type stuff), you could do fairly well.
But I could be wrong, too.
I am holding out for cheap, used, SUVs and pampered pickups, myself.