For me it's partly the convenience. I use a bread-making machine so it's no effort, and I keep a stockpile of ingredients on hand because they last much longer than the cooked bread. Then I can get some fresh bread without leaving the house.

I do think I save money, but that's not why I do it. I also think the quality of home-made bread is better than the cheaper shop-bought stuff, and is at least a known quantity because I know what I put in it.

There is also an element of "survival" to it. A few years ago we had a fuel strike, and after a week the supermarkets had run out of bread, and it was nice not to be affected by that. It will matter more in a more serious crisis. (I also have some rice and pasta stockpiled, but variety is good.)

Basically, once I got the machine, I quickly got into the habit of buying flour etc instead of buying bread. And then it's easier to make bread then make another trip to the shops. It's not like, eg, the traditional toasted sandwich-maker where there's nothing driving you to use it so it ends up not getting used. I've been using the break-maker for about 9 years now.

Nothing like fresh made warm bread or biscuits with homemade sweet butter or jam for a weekend morning breakfast.

One of the arguments in support of hunting is the philosophical connection with our most ancient means of acquiring food.
Baking bread, leavened or unleavened, is the connection with our next moves to an agrarian and animal husbandry based culture.
I took a associate degree in ag science, both to use up my G.I. Bill and better understand how my chicken,pork,beef and even oranges came to my plate.
I was walking a local archaeological site complex rich in Chumash artifacts. the ethnobotonist couldn't understand why so much exotic rhygrass was growing among the grinding stations under oak trees.
I had to tell him rhy was planted heavilly in WW1 for Europe.
This doctorate who could invision ancient botanical landscapes didn't even know waht happened here during his grandparent's youth!
If you can do the basics, people can't pass trefe on you at the market.

I must have misunderstood the question when I posted earlier.
Flour is for more than just bread.
By learning the basics of using it for everything from biscuits to bread to pancakes you will save yourself a lot of money over the long term.
It is basic foodstuff.
When you add a supply of raisins or other dried fruit it gets even better.

I also have a problem with the idea of just piling up a hoard of stuff that never gets used.
I buy flour in 10kg (20 pound) bags and use about a bag every 2 months. I keep one bag that I am using and one ready to replace that one when my flour canisters go empty.

If I had to rely on my pantry for a month I would have enough flour for at least one month on hand and likely enough for three months.

Anyway, flour is a lot easier to store than frozen or canned bread.

(Also, have you ever tried carrying eggs or bread in a pack sack? They seldom survive in a useful form.)

edit:
I also would point out that most bakeries have a two day delivery schedule, and stores only stock that much bread. If the power goes out bread bakeries shut and stores run out of bread fast.

I think Chris is the only one that touched on the fact that baking/cooking is a skill that everyone should have. It's basic personal preparedness. For a city guy like yourself, you should be able to store a decent amount of basic provisions to make many different baked items (i.e. pastries, breads, cakes, brownies, etc. ), starches (i.e. rice, vegetables) and bean-type stuff. There is another thread going on about growing your own vegetables. Fruits are a little hard because most of them grow on trees. However, you can get dried fruit at most health food stores (expensive...). The canned stuff usually has tons of sugar. If you have that, you should have a pretty balanced diet.

I'm not vegetarian, but learning to eat "vegetarian" can be a good survival skill for a big city. If you are able to grow vegetables, have fruit, have beans, and be able to put them all together, you'll be able to survive whatever your current situation is.

Why do a lot of women think a man who can cook is awesome? Hmm...

Basically, 'cuz it is way yummy!!! My DW makes a killer honey-whole wheat. The first loaf is always gone within an hour after baking. We have to let it rest first, of course, before we slather the butter and more honey (at least I do) on it.

Good point about saving money. Once you start baking your own you eventually realize the bread bought at the supermarket is way overpriced for what you get.

A friend of mine works at a bakery. I've had the opportunity to visit him at work many times. They run a relatively small-scale, user-friendly business and their products are way above average as far as the quality is concerned. Still, it always surprises me just how many additives they put in their bread and pastry. Everything from vitamins and preservatives to artificial sweeteners, some of which they're legally required to add in the prescribed quantity. Even with all that crap, their bread is inedible after 3 days. The bread I bake stays fresh for up to a week! So what exactly are those preservatives good for after all?

Also, I'm not exactly into New Age pseudophilosophy but no machine-made bread can compare to the real homemade, handmade stuff. It's for that reason why I avoid bread-making machines. They may save you some time and effort but the end product just isn't the same. Don't know why but there must be something about kneading the dough with your own hands that gives off good vibes.

Good homemade sourdough bread should stay fresh for 2 or 3 weeks without any problem. I had sourdough loafs that were still good after 4 weeks. Pumpernickel can last for several months.
The main problem with baking machines is the way they heat the doe. The slow heating to baking temperature allows a lot of the liquid to evaporate. Baking in a preheated oven quickly creates a crust that seals the moisture in the loaf. The machines also do not let the doe rise long enough. I think that most of the machine fail to knead long enough. That does not allow the glue proteins to develop a proper structure in the bread. These are details but in the end you´ll taste the difference.

The question “Why bake bread?” leads to a larger question, “Why cook at all or even learn to cook?”

Years ago during another economic crisis, employees of a large corporation I worked for donated many tons of food, for the hard pressed. These foods included large bags of beans, rice, potatoes, flour, onions, raw vegetables, and boxes of bulk cereal, powdered milk, cheese, canned goods including meats and fish, etc. The staples we had grown up with. One weekend we loaded up our private rigs and delivered it all. Within a week, we heard that many of the families we had delivered to were crying out for food again. We were confused because that food should have lasted for a long time. I was assigned with a few others to find out what was wrong. It turned out that young families did not know how to cook and were starving next to stacks of food we had delivered. They had been spoon fed via fast food franchises since childhood and expected fast food deliveries daily. One older, mid- forties, single parent did not know how to operate the oven in her long-time home. She said her mother had come over for years until her recent death to cook all the meals. The older families and first and second generation immigrant families were more than pleased with the food and knew how to stretch what they had for at least a month or more. I know food banks do not have a problem with this now because current families buy food in grocery stores that cater to eating microwave, instant, and frozen meals. This is how most families eat. This is what stores donate to food banks. Some people think this is extreme, but I know that some kids will not eat food unless it has a wrapper with their favorite fast food logo on it.

Why bake bread? Your well being may depend on it. Knowing how to cook and bake, and how to improvise, may influence your future. I would hate to see someone starve surrounded by food, but it has happened before. Check the history on some of our northern explorers.