Word: mortgagees
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Dates: during 1980-1989
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I refer to the home mortgage interest deduction, the cornerstone of America's gargantuan, secret welfare state for the middle class.
Under common mortgage-lending standards, people can pay three times their salary for a home price. $70,000 is three times a salary of $23,333, which is below the median income for rent-control tenants. So Proposition I really does provide a choice of affordable homeownership.
Baker, sadly enough, never learned how or when to quit. She spent francs as fast as she earned them, and her last years were marked by humiliations: mortgage foreclosure on the rambling country home she built for the Tribe, increasingly inept and desperate "farewell" performances to pay overdue bills. But...
Banality is a security blanket for Frank. He has been playing the standards in a routine fashion for years, stitching the songs together with chipper- inane prattle as featureless as his musicianship. He's just a guy supporting his offscreen wife, kids and mortgage in a way he finds more...
In fact, however, very few moderate-income renters today would be able to choose to buy their home. Carrying a mortgage on an average-priced home sucks up over half of the median income of a young family with children.