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...housing are holding lotteries or using waiting lists to determine who can buy. In one such competition, Ron Rogers, 31, and his wife Lucinda narrowly missed out on a $249,900, four-bedroom house in Orange County last summer because other prospective buyers beat him to the sign-up sheet. Rogers, an information officer for the Immigration and Naturalization Service, now has a crack at one of 19 new homes available this week. But the price of the model he wanted has jumped to $315,900, so he is aiming for a three-bedroom, $289,900 unit...

Author: /time Magazine | Title: Gimme Shelter | 2/27/1989 | See Source »

Thrift executives pressured Congress to let them fight back. In 1980 Congress lifted restrictions on interest rates that S & Ls could pay. But regulators waited a year before freeing the other side of the balance sheet by allowing S & Ls to grant adjustable-rate mortgages. The delay left the thrifts in a bind, because interest rates had rocketed from 13% at the end of 1979 to more than 20% a year later. Thrifts were collecting interest rates of around 8% or less on their 30-year mortgages, while paying double-digit interest to new depositors. During 1981 some...

Author: /time Magazine | Title: The Savings And Loan Crisis: Finally, the Bill Has Come Due | 2/20/1989 | See Source »

...will unveil his budget plan, before passing final judgement. In the end, experts say Bush, like Reagan before him, will be measured by his ability to reduce the deficit and avoid a recession. Lacking a clear mandate for other policies, the Bush legacy may hinge solely on the balance sheet for 1989 through...

Author: By Jonathan S. Cohn, | Title: Of Flexible Freezes and Gored Oxen | 2/3/1989 | See Source »

...addition, a tally sheet of the first vote on Jackson's tenure bid went undiscovered--despite court orders that Harvard submit all relevant documents--until a witness referred to it during the trial. Then, in July, the University turned over hundreds of pages of additional documents to Jackson, following Ryan's attempt to discover why the tally sheet had not been found earlier...

Author: By Robert J. Weiner, | Title: B-School Awaits End of Jackson Trial; Ethical Questions Taking Central Role | 2/1/1989 | See Source »

...staying at a very stylish hotel in New York City where I knew they always had a bathrobe in the closet, so I left mine at home. I had called room service for coffee, then discovered there was no robe. When the coffee came, I took a sheet off the bed and wrapped it around myself toga style to answer the door. I can imagine what the waiter thought. I can just see him going back to the kitchen and saying, "You'll never guess what I saw in Room...

Author: /time Magazine | Title: The Silver Fox | 1/23/1989 | See Source »

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