Word: condos
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Dates: during 1970-1979
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...large, is more than a technicality. By holding the unit, Harvard prevented any possibility that the home would go on the open market, where the hundreds of Cantabrigians in need of housing would have had a chance at the property. It also allowed the professor to buy the condo at a far lower interest rate than that available to area residents...
Condominium has been a fighting word in Cambridge for years now, ever since the nationwide condo boom hit this crowded city. Developers, property-owners and some of the city's conservative leaders place condos on a par with apple pie and ice cream. Condo opponents, who include a five-member majority of the City Council, mention the converted apartments in a tone Cambridge usually reserves for incest and the New York Yankees...
...permit system, which governs renovation, and not the buying and selling of units, is an effort to avoid the legal obstacles that have hampered past attempts to prevent the spread of condominiums. Court challenges have already started for the new ordinance, though, and some condo developers predict the new rent control regulations will be outlawed before they're ever approved...
...apartment that cost $50,000 four years ago now goes for $225,000. A modest brownstone in Brooklyn costs $130,000. Fifty-year-old houses in Atlanta's Virginia-Highland neighborhood of wood-frame bungalows have doubled from $30,000 in 1976 to $60,000. A one-bedroom condo in Boston's scruffy South End costs up to $60,000. Says Ann Wallace, 31, who was looking to buy in the supposedly inexpensive area of south-central Los Angeles: "What we figured would sell for $40,000 is selling for $60,000. What we figured would...
...Logically, the committee should support the condo bill too, because the city council is on record as favoring it," he added...