Word: renters
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Dates: during 1970-1979
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...starts-still among the fastest in history-that can be sustained for years to come. Marriages are expected to average 2,200,000 a year through the 1970s, v. 1,800,000 annually in the 1960s, and each wedding creates a new family that is a prospective buyer or renter of a home or apartment of its own. The exact size of the 1973 decline in housing starts depends partly on how deeply Washington cuts subsidies for public housing. The Office of Management and Budget, fighting to hold down federal spending, has proposed an 18-month moratorium on all Government...
ABOUT the first of every month, millions of apartment dwellers echo a familiar and bitter complaint: while homeowners get large tax breaks as well as investment equity in their houses, a renter's lifetime collection of monthly receipts adds up to just so much confetti in the wind. In search of a better deal, more and more erstwhile tenants are moving to condominiums, in which occupants hold legal title to their apartments instead of mere leases. This form of housing was devised in medieval Europe, has long been popular abroad, and lately has become the fastest-rising development...
...business identifies with him. When he became its president in 1959, ITT already was large, with sales of $765 million, but it mostly produced and ran telecommunications systems abroad. Under Geneen, ITT through a dizzying series of acquisitions has become a hotel operator (Sheraton), insurance seller (Hartford Fire), car renter (Avis), baker (Continental Baking), homebuilder (Levitt), as well as a maker of pulp and cellulose and a major shareholder in Comsat. Overseas it has been rolling like Patton's Third Army into cosmetics, food products, auto parts and construction materials. Last year it employed almost 400,000 people...
...fast-growing rental-car companies. An estimated 12% of the 1970 models are now on lease or rental, and the annual figure is expected to rise to 18% within five years. The manufacturers also get a free ride in the advertising of the rental firms, and each car renter becomes a prospective buyer-at no undue expense to the manufacturer...