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Housing experts measure supply in months, with a six-month inventory considered normal. The national backlog reached 9.2 months in the 1990 recession but today stands at just 4.8 months. The upshot: even if demand slackens, prices can hold if sellers simply wait a normal length of time for the right buyer to surface. Increasingly, that buyer is a new American. Greenspan can get breathless describing "the incredible rise in immigration," which he says accounts for "a third of the rise in household formation" and "has been a major factor holding the price level of homes up." Today more than...

Author: /time Magazine | Title: What Bubble? | 8/5/2002 | See Source »

François Clavadetscher, a newly retired Swiss captain who came from the Swissair side, says the conflict has been fueled by jealousy. "We are better trained, have higher qualifications and undergo stricter selection criteria," he says. "It is normal that our salaries are higher. No airline will pay the same to long-haul pilots and those flying commuter planes." If the union persists in its demands, Swiss spokesman Markus Baumgartner warns, the company would have to restructure its route network in order to save money for the payout, a move that could cripple the fledgling airline. Meanwhile, management...

Author: /time Magazine | Title: A Very Bumpy Takeoff | 8/5/2002 | See Source »

...Gujarat's wounds should be slowly healing. Instead, new injuries are being inflicted daily. Muslims brave enough to come back are finding they're not welcome even in towns and villages they've called home for generations. Many have been told that their only chance of regaining a normal life is to withdraw accusations of rape and murder against their neighbors. Pandarwada is a typical case. In March, the marauding mobs tried to shield their faces but were recognized anyway, and some 90 criminal complaints have been filed, though no arrests have yet been made. Headman Anilbhai Manubhai Modi...

Author: /time Magazine | Title: Walking Scared in India | 7/29/2002 | See Source »

...DELHI—I don’t enjoy telling people in New Delhi which country I study in. No, not because there is an anti-American sentiment here, not because I could be treated differently, or because I could be fleeced by shopkeepers and charged three times the normal rate for a can of Coke. The reason is Dubyaman...

Author: By Ravi Agrawal, | Title: Dubyaman and the N-Bomb | 7/26/2002 | See Source »

...point I was cutting a man's hair when, out of the blue, I had to fight back tears." Fulbright tried alternative remedies, like yam creams, but relief came only when she tried Prempro four months ago. "It was like a miracle," Fulbright says. "I was back to my normal self...

Author: /time Magazine | Title: The Truth About Hormones | 7/22/2002 | See Source »

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