Word: mortgagees
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Dates: during 1980-1989
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Despos has already found a site for a bigger operation, an empty Amoco filling station half a mile from where he is now located. The total cost of moving there, including new machines and remodeling, would come to about $175,000. But Despos is finding that he cannot afford to...
Even so, a conventional 30-year mortgage now costs 16%, bank installment loans are 18% to 19%, and credit card companies are charging 20% on unpaid balances.
Last year only 18% of those who bought new homes were first-time owners, less than half the level of 1977. The rea son: sky-high mortgage rates.
Homeowners are among the biggest gainers. Many people buy property today with the anticipation that inflation will continue. A homeowner holding a 12% mortgage would have a crippling house payment if inflation, and the accompanying double-digit salary increases, suddenly stopped. Marty Brennan, 39, a San Francisco real es tate...
As Lemmon should know, movies are different. What looks like a character's final tribute from a theater balcony be comes, in movie closeup, an autopsy. And Lemmon, by re-creating his stage performance, has created another, more pitiable Scottie. Lemmon still articulates a lexicon of frayed hopes through...