Word: ownership
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Dates: during 1980-1989
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...Boston local members of the bricklayers union act as nonprofit housing developers. On low-cost land the bricklayers acquired from the city, they are building modestly priced homes that first-timers buy with mortgages subsidized by the state Home Ownership Opportunity Program. Eleanor Santosuosso, 45, will soon move -- along with her husband, three sons and her mother, 75 -- into a four-bedroom town house that the family won the right to buy for $97,000 in a lottery last year. Says she: "Even my mother says she has always dreamed of owning a home. She figured it was an impossible...
Congress is taking a cue from such state and local initiatives as it begins to consider new ways of promoting home ownership. After years of battling the Reagan Administration's wrecking-ball approach, which leveled housing funds from 7.5% of the federal budget in the late 1970s to 1.5% last year, many legislators now want the Government to aid first-time buyers actively. One bill, sponsored by Henry Gonzalez, chairman of the House Banking Committee, would create a $6 billion fund to make low-interest mortgage loans to first- timers who earn up to 115% of the median income...
...many ways, home ownership represents a sense of how we are doing," says Denise DiPasquale, a research fellow at the Joint Center for Housing Studies at Harvard University. "So if people own, they are making it over a financial and emotional threshold." While the obstacles may be daunting, many proud and resourceful new owners are showing that the threshold can still be crossed...
...welcome harsher gun-control measures, they are skeptical and ambivalent on the subject. Most do not want to ban gun possession entirely; 84% say people have a right to own guns, perhaps because 53% feel they are inadequately protected by police. As for semiautomatic weapons, 51% would make civilian ownership of these guns illegal. In any case, 48% believe new restrictions would not reduce the amount of violence...
BUSINESS: Despite daunting odds, plucky first-time buyers are unlocking the front door to home ownership...