Have you ever wanted to own a flying car?

Some of the futuristic items we dreamed about as kids are available now, like the robot vacuum, cash machines and watching movies from a device you can hold in your hand.

Well, now the flying car is one step closer to becoming a reality.

Last month, the National Highway Traffic Safety Administration granted the Transition Roadable Aircraft a series of special exemptions which has effectively made the plane-car hybrid street legal.

The Transition was developed by a team of MIT-trained researchers for the company Terrafugia. The two-seater is able to morph from a car to a plane in about 30 seconds. It also runs on regular unleaded gas, instead of more expensive rocket fuel.

The flying car will run for about $250,000.  Terrafugia estimates it will be available to the public by the end of 2012.

Watch the following video and dream about having one of these in your garage some day.

 

Flying Car (YouTube)