Home ownership has enjoyed a well-deserved reputation as a crucial component of the so-called "American Dream." But for many people, home ownership is now perceived more as a nightmare than an essential element of the "good life" that could be attained in the United States.
 
The perception of home ownership as a nightmare when this is the reality out there from the Press:
 

1. A avalanche of foreclosures has forced homeowners to give up a home they can't afford.
2. Equity in homes have been eroded and homeowners are upside down in investment power.
3. Insurance and taxes still can make housing unaffordable. And now that gasoline costs upwards of $3.75 a gallon, the more afforable communities, mean expensive commutes to jobs.
4. Homeowners are paying more for utilities, insurance and maintenance due to natural disasters, inflation and global materials markets.
5. Wall Street analysts have spewed out piles of statistics to convince the public that a home is a worse investment than stocks or mutual funds.
6. We are stuck in a mindset of Instant gratification and short term payoff. Real Estate is a long term investment that gives immediate rewards. It is not a "cash machine".
7. A relocation workforce have made short-term home ownership a questionable financial proposition.
8. The prospect of diminished home values or minimal appreciation has scared off many people who otherwise might have been good candidates for home ownership.

 
Yet homeownership still offers the same benefits and advantages it always has. These include:

1. The opportunity to build equity and create wealth over time.
2. Protection from rent increases or eviction at the whim of a landlord.
3. The pleasures of a relatively larger home, suitable for a family, and with a backyard, garage or other auxiliary space.
4. The freedom -- design review boards notwithstanding -- to improve, remodel or redecorate to suit one's own style and budget.
5. A variety of lucrative income-tax breaks.
6. Pride of ownership and a greater sense of security and stability.