Word: mortgagees
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Dates: during 1980-1989
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Preserving the American dream of owning a home is a laudable idea, but not the way Congress has decided to go about it. True, the Commerce Department announced last week that construction on new homes in April dropped to an annual adjusted rate of 881,000, a slump of 6.4...
Two weeks ago, the Democratic-controlled House voted 349 to 55 for a $1 billion bill that would pay home buyers up to six percentage points of mortgage interest rates on new houses. The bill would cover mortgages of up to $90,000; the maximum yearly income of eligible buyers...
White House advisers are concerned that the housing subsidy could lead to a flood of relief bills for other ailing industries, such as autos and steel. Though President Reagan would like to veto the measure, he may sign it anyway. He has rejected only three bills so far, and he...
(10 of 12) Security statistic of all: since 1970 average Social Security benefits, adjusted for inflation, have risen a remarkable 37%; average weekly wages, adjusted for inflation, have not increased at all. Says Ricardo-Campbell: "We have been taking real income from young people who are heads of households, who...
A tight money supply, though, is only part of the puzzle. Some experts, including Felix Rohatyn, a partner in the Lazard Frères investment banking firm, argue that loan demand is still putting intense pressure on interest rates. While the high cost of money has discouraged mortgage seekers and...