Word: rent
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Dates: during 1940-1949
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...market 30 years ago as a want-ad salesman. His first venture was a neighborhood drugstore, built for $10,000 out of savings. It was also one of the few buildings he ever purchased outright. Corrigan's operating motto is: pay as little down as possible, let the .rent do the rest. Also: always build your apartments around a shopping center. As one project began to pay off, he would take out a mortgage to start another...
...Conservative real-estate men smiled conservatively, waited for Corrigan to stumble over his fast-moving self. But Corrigan has yet to stumble. He went right on building shopping centers, erecting housing units around them. During the depression less than 1% of Corrigan's properties were vacant: his low-rent policy kept them filled. Says he: "I spread 'em around, that's the answer. Rather than make a big profit out of one building, I get a little profit out of one building...
...80th Congress are these propositions: ¶Legislation which will eliminate economic crises, but without socialistic controls which "deaden free enterprise." ¶ A housing bill. He is co-author with Democrats Wagner and Ellender of a bill to provide $88 million in Federal funds for 500,000 units of low-rent public housing...
This, says Catalino, is just about enough to pay the bills. With his wife Violeta and their two-year-old son, he lives in two rooms (rent: $18 a month) in the working class barrio of Jesus del Monte. Most days Catalino comes home to a dinner of beans and rice, and Sundays, before going out to the ball game, he favors arroz con polio. But rice is almost as scarce as meat these days, and lately Violeta has filled out the meal with vegetables...
They could not afford to buy such machinery. But if the fees were reasonable, they could rent it. Strickland had his bank advertise for veterans who wanted to go into such a business, granted them loans of $10,000 to $20,000 with which to buy farm equipment. He invited country banks all over the state to join him, offered to underwrite loans up to 50%. The new farm contractors also got the free advice of an agricultural expert Strickland had hired to show them how to do their job and improve the soil while doing...