Is the American Dream dying? Number of home-owning Americans drops

The American dream of homeownership is slipping further away, as the country's economic woes drag on. Almost 3 million fewer Americans own homes today, according to a U.S. Census Bureau report, compared with the peak in the first quarter of 2005, when 69.1% owned homes.

The reason for the deterioration? Exactly what you'd expect.

"The record foreclosure rate has thrown countless Americans out of homeownership, while high unemployment is preventing many from getting in the door," says Andrew LePage, an analyst at San Diego-based MDA DataQuick, a real estate information company.