Word: costlier
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Money to buy condos or co-ops is becoming costlier and harder to find, of course, but the impact of the squeeze has so far been modest. In Chicago, the Baird & Warner real estate firm reckons that October condo sales were 6% ahead of the same month last year, but prices have eased from an average of $93,000 in 1978 to about $85,000 today. In New York City, both demand and prices remain high, and luxury four-room apartments are selling for an average of $ 160,000, vs. $ 100,000 a year...
Already the cost of money for almost all purposes is soaring. Federal Home Loan Bank Board Chairman Jay Janis predicts that mortgage rates, which now average 11.5% nationwide, could reach 14% by January. Meanwhile, the ability of consumers to pay for costlier credit, oil and everything else is rapidly declining. Washington Economic Consultant Michael Evans calculates that inflation and the rising tax bite have reduced the spendable income of a family of four earning $20,000 annually by $1,000 so far this year. If consumers suddenly begin closing up their wallets and pocketbooks, as they are expected to, inventories...
...corporations raised the dollar value of these benefits at an average annual rate of 17%; over the same period, cash wages and salaries went up only 10% a year. Boosting benefits is much more difficult now; they are included in the guidelines calculations and are becoming costlier to provide, especially in the case of medical insurance plans. Last year such benefits rose by only 9.5%, and almost all of that increase reflected higher costs, not expanded programs...
Excavators decided to core the well when a test core taken last Thursday revealed that the small artifacts in the well did not merit costlier hand excavation, Gray C. Graffan, project archeologist at the institute, said yesterday...
...strategy is to test Samson some more in the Third World, then gradually introduce it into the U.S. Perhaps in five years people may be able to buy it throughout the country, for a penny or so more a bottle than Coke or Tab, because it is costlier to make and the company aims to profit. Moving faster would be hard, Austin points out, because Coca-Cola is already at full production with its regular soft drinks...