Word: mortgagees
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Dates: during 1980-1989
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Opponents say that cost of living adjustments often cause higher inflation rather than just help people keep up with past price hikes. This is because the increases are usually based on the CPI, which exaggerates the level of price rises. The market basket of goods used to calculate the CPI...
Housing is also likely to remain very sluggish, despite the drop in mortgage rates from 17% to about 12½% over the past two months. Alan Greenspan, former chief economic adviser to President Ford, predicted that they will have to decline another 1% to 2% before there is a significant...
Mason runs his business from an elegant boathouse office on the St. Johns River in Jacksonville, Fla., where the self-described "frustrated hermit" can survey both his flourishing accounts and his lush 75-acre estate. Starting out with a motley collection of Florida mortgage, banking and land-developing firms, Mason...
Say you're a Harvard professor and you want to buy a home in Cambridge. Do you go to the bank and ask for a mortgage that will cost you 15 per cent?
"Who knows how deeply the worms have eaten?" Stern wonders. "We all think we sleep safely in our beds, the mortgage payments up to date, the house insured, the burglar alarm operative . . .