Can you afford the American dream on your salary?

What exactly does it take to turn a renter into a buyer? Real estate professionals mull over this question often, coming up with ideas ranging from touting the personal pride of homeownership to the financial upside of building wealth and equity. Unfortunately, a willing renter isn't the only requirement for the transition into homeownership: the American dream comes with salary requirements too. According to HSH.com, buyers offering a 10 percent down payment on a nationalĀ median-priced home ($254,000) would need to make $63,941.21. The minimum salary drops to $55,390.57 for buyers putting down 20 percent ...