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...regional downturn quickly spread to the housing market. The median price of homes in the New York City area fell from $190,000 in the third quarter of 1988 to $182,600 in the same period last year. In Connecticut so many condominiums are on the block that the state is setting up a program to acquire 500 units at bargain prices and rent or sell them to low- and moderate-income families...

Author: /time Magazine | Title: Boom And Gloom | 1/15/1990 | See Source »

...West: Wild. From the supercharged Pacific Northwest to struggling Arizona, no region claims a wider range of strengths and weaknesses. Paced by high-flying Boeing, which is working off a four-year backlog of aircraft orders, Seattle is attracting newcomers from across the country. The median price of a Seattle home rose 23% in the third quarter to $110,000, marking the largest increase in the U.S. By contrast, Phoenix is mired in a real estate depression in the wake of a heedless building spree. Lenders foreclosed on more than 15,000 residential mortgages last year, up nearly 20% from...

Author: /time Magazine | Title: Boom And Gloom | 1/15/1990 | See Source »

...state's prosperity comes from looming defense cuts, which would have a sizable impact on Southern California's aerospace industry. Economists predict that unemployment in California will rise from 5.1%, vs. the current 5.3% U.S. average, to 7.4% in 1992, largely as a result of defense cutbacks. Meanwhile, the median price of a Los Angeles home reached $224,000 in the third quarter of 1989, up 18.7% from the previous year. Says Stephen Levy, director of the Center for Continuing Study of the California Economy in Palo Alto: "It's very unlikely that home prices will rush ahead...

Author: /time Magazine | Title: Boom And Gloom | 1/15/1990 | See Source »

...Professor Peter N. Kiang '80 of the University of Massachusetts at Boston, who also spoke at the forum, said that many of the criteria used to evaluate the success of Asian-Americans are misleading. Supposedly objective measures of success, such as median family income, scores on the Scholastic Aptitude Test (SAT) and grades can give a mistaken impression of the true position of Asians, he said...

Author: NO WRITER ATTRIBUTED | Title: Prof Redefines Asian Status | 12/4/1989 | See Source »

...projections of the cocaine supply, which still amount to guesswork, nonetheless indicate that the Government's longtime effort at interdicting shipments has been largely ineffective. In fact, smugglers have become so efficient and so numerous that since 1981 the median national retail price of cocaine has declined from $115 a gram...

Author: /time Magazine | Title: The Supply-Side Scourge | 11/13/1989 | See Source »

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