Go Ahead, Dream the Impossible House Dream

As 2001 draws to a close, many people are thinking about their goals for the new year. One that's high on the list of cramped apartment dwellers across the nation: owning a home.

While exorbitant prices in some parts of the country make buying a home difficult, don't automatically assume it's out of reach. "People should understand that it's not impossible to buy a house," says W. Eric Hehman, a certified financial planner at Austin Asset Management in Austin, Texas. "If you can find a good mortgage broker, they can help you structure almost any kind of loan."

When it comes to saving money, financial planners say plain old money market accounts might be the best place to invest your house fund. Short-term CDs are an option -- sometimes they offer better rates -- but be aware that you may end up tapping into the money earlier than you think, and CDs typically impose early withdrawal penalties. "If you think you may need the money in three years, you may need it in a year-and-a-half," says Eileen Dorsey, a certified financial planner in St. Louis. ...