Shortcut – Open Home or Desktop

From MacOSX Hints

I found this accidently a while back and use it all the time. Not sure if it is well known or not. While in the Finder with the cursor on “Desktop focus” (no window selected), you can quickly open a new window to either your home or desktop foler:

Press Command + Up Arrow to open your home directory

Press Command + Down Arrow to open desktop folder

[Editor’s note: This will not work if you’re navigating a Finder window, as command-up takes on the “up one level” definition at that point.]