Buying a house is American Dream

Many people are afraid to buy a home in times like these, where the economy is tanking and the home prices are continuing to fall. But if you're brave enough to stray from the herd, you might be in for the home-buying opportunity of a lifetime. Buying a home is not like a dream. Back in the 1930s, only four out of 10 American families owned a home. That was because very few people had enough cash to buy a home and there were no such thing as a bank loan specifically designed to purchase a home, something we now know as a mortgage.

Home ownership makes sense for most Americans, particularly at today's lower prices and bargain interest rates. Eighty percent of homeowners would advise their close friends or family members to buy a home. Instead of paying $1,000 - $1,500 per month on rent, any family would love to buy a home of their own. It's a great time to buy especially if you have a good credit. If you are qualified by a mortgage lender to buy a home now, have the money to put up to 20% cash down of the home's value, and if the purchase of the house makes sense for your situation, then you are prepared to purchase a home and live in that home.