Word: boom
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Dates: during 1970-1979
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...should have served as a warning. Railroads and ships switched to diesel. Homeowners converted their furnaces to natural gas or fuel oil. Mines closed, and those that stayed open watched the price of their coal drop to $2.95 per ton. But who remembers the bust now that the boom is back? Today coal supplies one-fifth of the nation's total energy requirements. This elementary fact, says Caudill, permitted mineowners to run up the price from $9 to $35 per ton in 50 days after the Arab oil boycotts. He thinks it has also allowed Old King Coal largely...
Teaching law is a boom-time business in California, home of one-quarter of the more than 200 law schools in the nation. Admission can be a cinch. Though quality institutions like the University of California Law School at Berkeley still look for top college graduates with 700 scores on the law boards, moonlight legal factories such as Van Norman University and Magna Carta University welcome anybody with two years of college-and at least $4,000 to spend on the dream of courtroom glory. The state's education code asks mainly two things of a law school...
...house-buying frenzy that is sweeping Southern California. Largely because of the region's improving economy and expanding population, the long pent-up demand for the limited available housing has resulted in scenes reminiscent of the Oklahoma land rush. The surge in sales is causing a boom in construction, attracting speculators, and hiking prices to levels that are unrealistically high, even for the normally inflated real estate market in Southern California. Says Frank Carr, executive vice president of W.R. Grace Properties, Inc., a land-developing arm of W.R. Grace & Co.: "I've never seen anything like...
Though the California boom is exceptional, signs of revival in the recession-battered housing industry are cropping up elsewhere round the country. In August, housing starts were running at an annual rate of 1.5 million, up 11% from July. That is a marked improvement over a low of 880,000 starts registered in December 1974-but still well below the peak rate of almost 2.7 million posted in February...
...were disappointed when sales rose by 9% over the same period last year; most of the rise was attributable to inflation. Economist Grove, however, predicts "some pickup" in this area during the fourth quarter of 1976, adding, "I don't think it's going to be a boom by any means...