I just had a  single woman employed by a local supermarket chain buy her first home. She was nervous, but her family told her you can get a mortgage for what you are paying in rent and she did!

She bought a house for $80,000; got a USDA loan so she didn't have to put any money down (she did pay for her closing costs) and for less than $700 a month she owns a home. She will also be getting the tax credit of $8,000 and she now has equity and that money is not going in the air; it is going to the pride of home ownership. Isn't this part of the American dream?