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...March. Existing-home sales and new starts fell nationally in June. So there are some cracks. "I don't think it's inappropriate for people who are getting battered on their stocks to look around and ask, 'Where else am I vulnerable?'" says Eric Belsky, executive director of the Joint Center for Housing Studies at Harvard. But economists say that when the housing boom finally ends on a broad scale--and that could be a year or more away--most homeowners will see merely stunted appreciation, not declines. "Real estate is the place to be," proclaims Melvin Barney, an attorney...

Author: /time Magazine | Title: What Bubble? | 8/5/2002 | See Source »

...DeWenters have lots of company. In the 12 months that ended on June 30, Americans spent $114 billion remodeling their homes, up from $107 billion in the 12 months that ended March 31, Harvard's Joint Center reports. Some of the money came from stocks. But most was borrowed against homeowners' record $6.7 trillion of equity. Home has never been sweeter. "It's good to invest in your house, to fix it up," says Patricia Chavez, 40, who lives with her husband and three children in Moreno Valley, Calif. The Chavezes just borrowed $20,000 against the house, partly...

Author: /time Magazine | Title: What Bubble? | 8/5/2002 | See Source »

...price level of homes up." Today more than 1 in 10 Americans is foreign-born, compared with 1 in 20 in 1970. This influx of citizens, mainly from Latin America and Asia, will help drive demand for an additional 1.1 million homes a year, according to Harvard's Joint Center...

Author: /time Magazine | Title: What Bubble? | 8/5/2002 | See Source »

...recent night, three sergeants from the American Midwest sit at a table in a pizza joint downrange with a heavily made-up, platinum blonde Russian in a tight T shirt and pants. She sips mango juice and says nothing. Dressed in T shirts and jeans, the men swig Budweisers from the bottle and joke with each other. They do not want to give their names. "Just chillin' out," says one, his brown hair cropped on the sides and brush-cut short on top. He likes the Army, he says, though he can't wait to get home...

Author: /time Magazine | Title: Base Instincts | 8/5/2002 | See Source »

...Force had already approved two MIT courses, one for a senior-year ROTC requirement on national security policy and one for a junior-year requirement on leadership and management, to substitute for officer-taught courses. Harvard cadets can earn joint credit for those two courses because the University has a cross-registration agreement with...

Author: By Elisabeth S. Theodore, CRIMSON STAFF WRITER | Title: FAS Course Will Count for ROTC | 8/2/2002 | See Source »

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