Word: burstingly
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Rajaram had even been lucky just before California's housing bubble burst, according to his former Northridge neighbor and real estate agent Sue Karns. He sold his home two years ago for $750,000, making a sizable profit on the property he and his wife had purchased in 1997 for $274,000, according to The Los Angeles Times. He then moved to the Sorrento Pointe house, planning to rent for a few years before buying again...
...boys. In India's northern Hindi-speaking states, girls' literacy rates are particularly low, ranging between 33% and 50%. Far more girls fail to complete their education - or even enroll. "I want to be a VIP when I grow up," says Priya Verma, 11, to a burst of laughter all around. "That is why I want to study from bhaiyya... I know he will help me get good marks...
With the bubble burst, Walton and Butler assume that Prosperity congregants have taken a disproportionate hit, and they are curious as to how their churches will respond. Butler thinks some of the flashier ministries will shrink along with their congregants' fortunes. Says Walton: "You would think that the current economic conditions would undercut their theology." But he predicts they will persevere, since God's earthly largesse is just as attractive when one is behind the economic eight ball...
...much as the entire U.S. economy can produce in a year. Much of the increase in debt was used to invest in real estate. The result was a bubble; at its peak, average U.S. house prices were rising at 20% a year. Then - as bubbles always do - it burst. The S&P Case-Shiller index of house prices in 20 cities has been falling since February 2007. And the decline is accelerating. In June prices were down 16% compared with a year earlier. In some cities - like Phoenix and Miami - they have fallen by as much as a third from...
...Chancellor since the war has quite so disastrously misread the economic situation, or so fundamentally misunderstood the inescapable nature of market economies - namely, that the greater the binge, the greater the hangover. Today, Britain is on the brink of recession, inflation has jumped to 4.7%, the housing bubble has burst, and mortgage lender Bradford & Bingley has just been nationalized...