Word: maintenanceâ
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Dates: during 1977-1977
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These price increases are of course reflected in the monthly costs of owning a home. The costs?including mortgage payments, insurance, property taxes, heating, electricity and maintenance???rose 73.4% for older houses and 102.3% for new ones. The economists and other scholars who wrote the M.I.T.-Harvard study say that if house prices rise as fast, and incomes grow no more rapidly, over the next five years, "typical new homes in 1981 would sell for $78,000 ... the U.S. would become less and less a nation of homeowners...
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