Word: francisco
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Dates: during 1990-1999
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Throughout the book, changes in the city environment where the characters live seem to mirror their aging process. In "Old Love Affairs," Lucretia Baine, who is "almost old but lively," remembers her youth in San Francisco, when "the whole city seemed full of the relatively young and unmarried" and the youthful energy of the city had not yet been corrupted. Now, although she still excitedly wonders what to wear when an old acquaintance asks her to dinner, that freshness is gone, and she feels the city has grown older with...
...Reported by Maryanne Murray Buechner/New York, Nichole Christian/Detroit, Wendy Cole and Maggie Sieger/Chicago, Nancy Harbert/Albuquerque, Michael Krantz/San Francisco and Elaine Marshall/Reno
...Reported by Maryanne Murray Buechner and Jay Ehrlich/New York, Wendy Cole/Chicago, John F. Dickerson/Washington, Nancy Harbert/Albuquerque, Michael Krantz/San Francisco and Jacqueline Savaiano/Los Angeles
...housing market, prices in some regions are escalating far faster than personal income, shoving more home buyers into jumboland without a paycheck to match. In Louisville, Dallas and Phoenix, prices are going up 7% to 10% a year. In Charleston, S.C., home prices rose 16% last year. In San Francisco the median home price rose 12%, to a pocket-draining $321,700. Let's put that number in perspective: to buy an average house with the standard 20% down, you would have to borrow $257,360--jum-booo...
Russ Marinello, a mortgage broker for Bay Counties Financial, says 80% of the mortgages he originates are jumbos--and no, it's not his specialty. The San Francisco area is unusually pricey. But jumbo creep is a broad issue. The breakpoint adjusts annually to match the rise in the national median home price, 5% last year. Still, in places where home prices are escalating faster than that, more buyers will be pushed into jumbos...