I should have known you would have pointed this out, but realistically the only way to make a car fly would involve combining either a plane or helicopter into it. As they put in their FAQ
* A lot of previous "flying car" attempts have failed. Why is this any different?
The Transition® has the advantage of modern engines, composite materials, and computer-based avionics. Terrafugia’s philosophy is to design a vehicle for pilots that brings additional ground capability to an airplane instead of attempting to make a car fly.
I would add - Until Mr. Fusion and Anti-gravity tech anyway.
I'm amused that the flying car argument has wiggled it's way into a topic dealing with how the young and the old may not understand technology. The whole argument probably seems rather silly to younger readers but then again, they weren't constantly promised by the media that the year 2000 would look like this:
Come to think of it, the media hasn't promised me anything worthwhile.
The news promises me that the world is going to shit, and things are all downhill for adults of my generation and later.
The corporations just want to sell me their electronics and their cell networks, with the promise that I'll make friends or something with them.
The only technological advances I can look forward to are things like the Pandora, where a manufacturer finally decides to make mobile computers with as much flexibility as desktop PCs.
"The world is shit, and you can buy our overpriced crap now or wait 2 months for a device that nobody else you meet in person will understand. You will die alone, probably, with a mutual hatred simmering between you and everyone you know."