Word: ago
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Dates: during 1980-1989
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Almost from the day they were married eleven years ago, Chuck Dribin and his wife Alice Eysenbach began salting away savings toward a home in suburban Chicago. "But something always seemed to happen," recalls Dribin, 38, a high school speech teacher. "Every time we saved $5,000, interest rates jumped and we needed $10,000." Even with a solidly middle-class income (now $40,000 between them), Dribin and Eysenbach, 39, a part-time teacher and actor, wondered whether they would ever be able to unlock the door to home ownership...
...save the necessary down payment. A prime reason is the price of rents, which have risen even faster than home prices in many cities. Now interest rates are rising as a barrier once again. The average 30-year mortgage rate climbed to 10.56% last week, vs. 9.84% a year ago, as the Federal Reserve tightened up credit in response to renewed signs of inflation...
...Milwaukee, Doreen and Robert Hamann bought their modest two-bedroom stone house 15 months ago with the help of a mortgage from the rapidly growing Wisconsin housing and economic development authority. Under its program, the 8.75% fixed-rate loan could be used for homes costing no more than $72,000. "At first I felt a little bitter to realize that we couldn't begin to live as nicely as our parents do," said Doreen, 27, an office clerk. But she and Hamann, a 41-year-old postal worker, now consider themselves lucky. "When you hear about all the young people...
Nestled in a tidy, working-class area just three miles away is Mandela House, a residential program founded by Thomas over a year ago for crack- addicted pregnant women. In a cozy five-bedroom home that smells of baby powder and food cooking on the stove, fingers that recently clutched glass crack pipes now rest upon distended bellies. From a back room floats the sound of a baby's cry and a soft, throaty voice singing, "Runaway child, runnin' wild, / . . . go back home where you belong./ You're lost in the great big city...
...John Cullen, a spokesman for the U.S. Army Recruiting Command. Still, the Department of Defense next month plans to argue in favor of overturning a 1988 federal-court decision that would allow antiwar activists equal access to career days in Atlanta high schools. In a landmark case five years ago, an interfaith peace and justice group called Clergy and Laity Concerned won the right to promote its cause among Chicago high school students. Yet in San Diego, the site of a large naval installation, the Project on Youth and Non-Military Opportunities has found little resistance to its counselors...