Word: buying
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Dates: during 1970-1979
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...touch with some of the people that might be running the country" in the future, rather than "chaining ourselves to leaders who are going down the pipe." But Oil Expert Walter Levy wondered if the U.S. should instead do its best to prop up the present leaders, trying to buy time. Levy readily admitted that this approach collapsed in Iran. Call it shortsighted, he said, but supporting the status quo "may give us another five or ten years in Saudi Arabia...
...that theirs was about to become one of the largest condominium conversions ever. The buildings had been sold to a development group for $110 million. Says Barbara Molotsky, a tenant who pays $370 a month for her one-bedroom apartment and may have to hand over $50,000 to buy it: "I don't want to buy, but there just aren't any rentals left...
...Buying one's own apartment is still largely an upper-income phenomenon, since the mortgage and maintenance can cost as much as 50% more than renting the same space. Developers commonly claim that most of the rental tenants elect to buy their apartments rather than move. But, says Gary Lowe, a leader of a consumer group called CHAIN (for California Housing, Action and Information Network), "Certainly in California, less than 5% of renters buy into a condominium. And no wonder. They can't afford...
Conversion of rental units displaced so many moderate-and lower-income tenants in Brookline, Mass., that the city last year declared a moratorium on evictions of tenants who refuse to buy. To critics who argue that such conversions are driving out the cash-shy old and young, realtors respond rather unpersuasively that condos and co-ops have stabilized neighborhoods and kept them up by giving the middle class the advantages and responsibilities of ownership. But the big switch to apartment ownership will make it harder for many Americans to find apartments at prices they can afford...
Because customers buy the systems outright rather than leasing them, simple functions like moving phones and changing numbers can be performed easily by company employees at minimal cost. The systems also save money by automatically routing long-distance calls through the most cost-efficient trunk lines. Citicorp's 1,500-phone Danray system is expected to save $10 million over the next decade. Another major multinational firm installed a 2,500-phone system for $3 million and expects the savings to balance that cost in three years...