Word: rosing
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Dates: during 2000-2009
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...cost of nuptials isn't a bad one to check--particularly in our party-obsessed culture--because it shows what people are willing to spend on nonessentials. According to the Wedding Report, a research firm that compiles stats on the wedding industry, the average cost of an American wedding rose to $28,732 in 2007, as the festivities have grown increasingly elaborate and personalized. But for the first time in almost a decade, that number is forecast to drop slightly this year, to $28,704. Nearly half of caterers and event planners surveyed by the National Association of Catering Executives...
...year lull is not merely significant in political terms. It also needs to be set against the fact that the warming which caused the frenzy lasted only 25 years. From 1875 to 1975 internationally accepted records suggest that the average global temperature rose by a total of just 0.2ºC. It was only the 0.5ºC rise recorded in the fourth quarter of the last century that produced the hysteria that has sparked this gold rush among green entrepreneurs and investors...
...stood at 125% in 2006, compared to 103% in the U.S. and 71% in Germany. One reason is that British homeowners came to fervently believe that bricks and mortar almost inevitably reward investors with a juicy return. After all, the FTSE 100 share index of Britain's biggest firms rose just 2.7% in the 10 years to May, while the average house price shot up 178%, according to Nationwide. That increase produced "a massive reservoir of equity," says Lowe, making British homes "not just a shelter, but increasingly a bank that people could draw on." And draw they did: over...
...also put an end to cheap credit. Mortgage lenders were happy to coddle British homeowners with easy money during the boom years, helping to push the rate at which U.K. house prices rose over the past decade far higher than economic drivers like income growth and low interest rates could justify. Now banks are throttling back. They have slashed the range of available mortgages and cut the amount they'll lend relative to the value of a property; no more can U.K. customers borrow more than a home is worth, as many had done...
...series of interest-rate cuts by the Bank of England since December has so far failed to tame mortgage interest rates; the average rate on a two-year fixed deal with a modest deposit rose to 6.94% in April from 6.6% the previous month. Annual inflation in the U.K. hit 3% in April, well beyond the government's 2% target, making further cuts soon highly unlikely. The central bank offered in late April to swap around $100 billion of lenders' old mortgage debt for safer government bonds, but the effect on the housing market has been muted. "It certainly...