Word: ruling
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Dates: during 1970-1979
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...Department of Housing and Urban Development estimates that in 1970 half the people in the U.S. could have afforded to buy a median-priced new house -then $23,400-by the normal credit rule that they spend no more than 25% of their pretax income on mortgage payments...
Today, by that same standard, only 13% can afford new-home ownership and 38% of all buyers ignore that prudent rule. In recent years, the price of new housing has gone up much faster than either personal income or inflation. Consequently, many Americans have become "house poor...
...years ago; in Chicago, it is $670, vs. $540; and in Los Angeles, $700, vs. $400. "It's a closet," sighs Olga Flores, a Houston social worker, of her $350-a-month one-bedroom apartment, which she found only after a long search. The old rule that renters spend no more than a quarter of their pretax income on rent went out with the Edsel. Explains Marc Lewis, a part owner of Manhattan's Gardner Realty: "They come looking for a one-bedroom and end up taking a studio...
This week the board is expected to rule favorably on a linkup between Western and Continental. Passengers would benefit almost immediately. If they merge, Western and Continental have promised a 20% reduction in coach fares...
...fact of Russian life. Long before the Communists, songs and folklore told of heroines suffering at the hands of men, and mothers have traditionally told their daughters, "If he doesn't beat you, he doesn't love you." Indeed, says Stern, sadomasochism and drink often rule the male-female relationship. He writes: "Violence, alcoholism, and sex form an explosive cocktail, making the line between 'normal life' and criminal pathology extremely fine...