The American dream of owning a home is alive and well, even as the recession deepens. This was seen in a recent report from the National Association of Realtors. It showed a significant increase in sales of existing, or previously owned, homes, and about half of purchasers are first-time home buyers. Condominium sales are particularly strong. Pending sales are also up.

Those first-timers often make substantial sacrifices to buy their first home, but they consider owning a home to be a ...

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