Buying or selling a home in Indiana? Here's what a $500K house looks like around the state

Earlier this month, Morgan Stanley analysts warned that commercial real estate could be headed for a crisis worse than 2008, according to a USA TODAY report.

The weak demand for office space, high interest rates and increasing maintenance costs could wreak havoc on the real estate market and business communities related to it, wrote Morgan Stanley Chief Investment Officer Lisa Shalett.

On the housing side of things, U.S. banks lost money on mortgages as potential homebuyers – tired of battling high mortgage rates and home prices – backed out of the market.

This is the first time mortgage lenders have collectively been in the red since the MBA began tracking these statistics in 2008, according to USA TODAY.

Here at home, let's take a look at what buyers in the $500,000 to $600,000 range might get for their money in housing markets around the state.

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Indianapolis home for sale

This Meridian-Kessler bungalow blends history with modern updates, and is listed for $550,000.

Built in 1933, this brick home has a two-car garage, hardwood floors and a built-in reading area.

With just over 1,700 square feet of space, you'll find 3 bedrooms, 2 baths, and a screened-in porch, along with a large unfinished basement that could be updated however you choose.

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Monticello

If you've dreamed of waterfront living, this townhouse in Monticello provides water views from every bedroom and living area.

Listed at $549,000, this spot on Lake Shafer has more than 2,600 square feet, a 2-car heated garage and a permanently covered boatslip at the waterfront.

Three bedrooms, 3.5 baths and a loft office will give the family plenty of room to spread out, and the chef will love the views while flipping those Sunday pancakes.

For those days you want to swim in something a little shallower, the HOA fee includes use of the lakeside swimming pool.

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Huntington

This listing for $579,900 just outside of Fort Wayne provides plenty of space for your money.

With 5,200 square feet of living space, this home is impressive and has room for anything you might want.

A home theater room? No problem. A giant rec room? It's got it. Plus, you can keep your vehicles out of the snow and elements with a 4-car garage.

Outside you'll find multiple decks, patios and more than an acre of land for plenty of privacy and quiet.

Remodeled:$1.2M Fountain Square home has a theme of comfort, privacy

Westfield

Coming in at the lower end of the eye-catching listings we've seen in this range, this home in Westfield is listed at $525,000 and combines classic charm with modern renovations.

Redesigned as an Airbnb, this 4 bedroom, 2 bathroom ranch house could be used as stylish investment property, or a family home.

The large living and family rooms make it a great spot for entertaining, and the 3/4-acre lot leaves room for outdoor fun or future expansion.