Word: pay
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Dates: during 1960-1969
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...back his personal standard of living. For the first time in his life, he cannot buy a house or rent an apartment that fits both his means and his expectations. He moved out of a $400-a-month, eleven-room house in the capital; he is willing to pay $600 for less space in an area that has commendable schools and is not more than one hour's commuting time away from Manhattan-but cannot find anything suitable. He is also willing to buy a house. "When I tell real estate agents that I can only...
...suburban New York home up for sale, one eager would-be buyer offered him $500 to be first to bid on it. He sold the house for a large profit. The disillusionment set in after he moved to Chicago and sought a house in the suburbs. "I had to pay much more for less house," he complains...
...crisis in housing is beginning to warp American life. Housing is by far the largest expense for most families; when that cost soars, something else in the budget has to give. Most of the 40 million U.S. residents who move each year must now make difficult compromises: they must pay higher prices than they had budgeted, or accept less living space, longer commuting or lower school standards. The problem affects almost everybody-the rich in luxury apartments, the middle class in suburban subdivisions, the poor in festering slums. In order to make bigger down payments, many middle-class families...
More often than ever before, young singles have to double up or triple up in cramped apartments if they hope to pay the rent. The latest trend in New England is for married couples to get together in pairs and lease a house. Quite a few young marrieds are forced to postpone having children because they cannot afford enough space for larger families. To avoid the problem of searching for a reasonably priced place in which to live, company executives sometimes resist transfers to different cities...
Even if the Government would permit it, most S. & L.s and mutual savings banks could not afford to raise the rates they pay to depositors. The bulk of their assets is invested in 20-year to 30-year mortgage loans at the much lower interest rates of bygone years. Insurance companies, normally the third biggest source of mortgage money, have increasingly withdrawn from the housing field. Wary of inflation and eager to improve their profits, they are funneling most of their property loans into projects in which they become part owners...