This KB article explains what to do if your Home folder disappears in Mac OS X 10.5. First thing, “don’t worry”.
To resolve this issue:
1. Open Terminal (in /Applications/Utilities)
2. Type this command, followed by Return:
chflags nohidden ~/
Much easier, copy and paste this into the terminal window and avoid typos.
A MacFixIt reader states they also experienced this in Tiger.