Once upon a time, that was more than likely an achievable dream. These days, however, with housing costs devouring about 70% of an individual's gross income, keeping a roof over one's head may be the most we can do? never mind owning the house!

Being employed, does not offer the same security to families that it did during our grandparent's era. The cost of living is not compatible with surging home prices; health care; property taxes; insurance; education? and, on and on, and on.

After you have paid the excessive amount of income required in order to live in your own house there is not much left over for necessities (let alone life's little luxuries)!

Housing crosses the threshold of being un-affordable when you are spending 30% or more of your ?before tax-income;? yet almost 40% of U.S. homeowners with a mortgage are living that reality. And, over 7 million households are spending 50% of their gross monthly income on covering their home loan, and basics, like utilities.

It would appear that the strain of owning your own home is inevitable. Existing homeowners with Adjustable Rate Mortgages (ARM's) should expect to see an increase in their monthly mortgage payments, especially once the initial fixed-rate period ends. And, those homeowners who want to sell or re-finance will find it more difficult to get a loan now that the real estate market is softening, and the mortgage industry is plagued with problems.

Cities like Stockton, and Long Beach, in California, and Miami and Fort Lauderdale in Florida seem to have the highest percentage of homeowners paying between 30% - 50% of their incomes on housing.

With a population of 300,000 in Stockton, California, to date there have been over 8,000 foreclosures in the past 8 months!

If you are a potential homeowner educate yourself about the market. Learn about adjustable rates, refinancing, and pre-payment penalties.

Having a dream is a necessity in order to achieve goals; home ownership should not become a stigma attainable only by a select few.

Don't let your dream become a living nightmare! Own a home; but only if you can afford it!