Word: mortgagees
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Dates: during 1980-1989
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Americans are now staggering under an installment and mortgage debt load of more than $1 trillion. Yet even credit crunches create opportunities, and some canny consumers have found profits in the vortex of soaring interest rates. A Detroit magazine editor, for example, now sends his savings across the border to...
The investment ploys are only part of the profound changes occurring in the nation's financial system, as it tries to adapt to the new world of persistent high inflation. The Federal Home Loan Bank Board has revealed that during the second half of last year, 266 of the...
More unnerving still, Administration experts now estimate that the U.S. will suffer inflation rates at or close to double-digit levels throughout the 1980s, which could mean a steady erosion in material standards of living. Previously, the Administration had contended that the current hyperinflation was largely a consequence of recent...
Tentative signs of an economic slowdown have been accumulating all winter, and last week brought yet more evidence that the battered economy cannot continue to grow for much longer. After limping along since autumn in the face of steadily soaring mortgage and construction costs, the nation's housing industry...
Hardest hit of all have been the nation's mutual savings banks and S and Ls. Because the thrifts have historically been forced to rely largely on mortgage lending for their business, much of the industry's current income is still coming from home loans written years ago...