Word: market
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Dates: during 1970-1979
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...knows? As the rally demonstrates, market psychology can mercurially shift. Since the end of 1976, when the Dow closed at 1004, investors' minds had been dominated by fears of inflation, higher interest rates and possible recession, despondency about the dollar and a widespread feeling that the Carter Administration was floundering in economic policy. By last Feb. 28, the Dow had sunk 26%, to 742, at which point stock prices had discounted all the bad news that could reasonably be expected, plus all that could unreasonably be feared, plus a bit more for good measure...
...down 60% from 1972, to 415,000 units, nowhere near the 1 million apartments experts say are needed. Developers' costs for land, labor and maintenance have gone up far faster than rents. Result: apartments are being converted into owner-occupied condominiums, thus removing them from the rental market, or condominiums are being built and sold at high prices to realize a quick return on investment. Says Howard Ruby, chairman of R. & B. Development Co. in Los Angeles: "Rents are still too low." Daniel Packard, an executive with Mayer Construction Co., which last year built 40% of the apartments...
Demand for rental units is high, partly because house prices are at record levels, forcing tenants to postpone buying homes-or to double up and join another family in renting a large old house. The tight market also reflects changing American social values. The growing population of Splitsville-more than 1 million Americans got divorces last year, v. less than half that number a decade ago-has forced spouses to seek separate dwellings, and they usually want apartments. So do childless hetero-and homosexual couples and independent-minded women. In Los Angeles, the number of people per dwelling dropped from...
...stock market has come alive, industrial production is growing like a young colt, and 4 million more Americans are at work than a year ago. Then why do so many people feel so skeptical and tentative about the economy...
...small companies are turning to solar at the marketing end. The New England Fuel Institute, an association of 1,300 independent fuel oil distributors, sells conventional rooftop solar panels to its home-owning customers and trains technicians to install and service solar units. Says President Charles Burkhardt: "We see that solar is coming, and we want to control as much of the market as we can." Solar Appliance Centers Inc. of New York City is now franchising its highly successful retail shops, which sell such products as solar-powered calculators ($40) and showers for camping...