Word: medians
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...twelve months through May, the median price of new one-family houses jumped 13% to $62,900, and the National Association of Realtors expects roughly the same size rise this year. Prices of old houses are moving up just as rapidly. The average mortgage rate for a new home has jumped from 9.1% in January 1978 to 10.7% last month and is rising faster than at any time since...
...Department of Housing and Urban Development estimates that in 1970 half the people in the U.S. could have afforded to buy a median-priced new house -then $23,400-by the normal credit rule that they spend no more than 25% of their pretax income on mortgage payments...
Despite Park's repressive measures, he is generally given credit for astutely managing South Korea's economic "miracle." When he came to power in 1961, the median annual income was less than $100. In 1979 it may reach about $1,500. A recent study by the World Bank concluded that South Korea has been by far the most effective country in the developing world in equably sharing its growing wealth between urban and rural areas. The annual growth rate since 1962 has averaged 9.3%, allowing South Korea to transform itself into a semi-industrialized state that may soon...
...Doctors feel they have a right to charge high fees?their median income is a towering $65,000 a year?to make up for the long training they must undergo and the 80-hour weeks that many say they put in, and to compensate them for bearing the responsibility of making life-and-death decisions. Says one Boston specialist with an international clientele: "Remember that when a doctor has finished seven or eight years of schooling, two or three years of internship, two or three years of specialization, by then he is married, starting a family and an expensive practice...
Indeed, the statistics indicate that Viet Nam-era vets are not doing so badly. Their median income is higher than that of nonveterans in the same age group. At least 65% have used the G.I. Bill to further their education; only 51% made use of it after World War II. The unemployment rate for veterans 25 to 29, however, is 7.7%, vs. a 5.5% overall average for that age group...