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...second shock to the real estate industry was the decline of the condominium market. Until only about a year ago, the U.S. was crazy for condos. More than 2.5 million units opened in a decade. But that produced a vast excess of supply, notably in California, Texas and Florida. Speculators who had bought condos in the hope of fast price appreciation saw the shakeout coming and dumped even more of them on the market. At the same time, demand was dampened by the maturing of baby boomers, many of whom now aspire to move from condos to split-level suburban...

Author: /time Magazine | Title: Building a Hollow Skyline | 6/21/2005 | See Source »

...investigative journalist reveals damning new evidence, Tyson is hauled before a court-martial on charges of mass murder. Is he guilty? Will a military tribunal be more vindictive than civilian justice? Can any circumstances mitigate an atrocity? Does a 17-year-old incident still have the power to shock? Indeed it does, and Nelson DeMille, who served as a lieutenant in Viet Nam, knows exactly how to employ his surge within us"), but the military scenes have the gunmetal ring of authenticity. This is The Caine Mutiny of the '80s, a long, over-the-shoulder look at a time that...

Author: /time Magazine | Title: Books: BODYWATCHING | 6/21/2005 | See Source »

Needy girls who imagine that having a baby will fill the void in their lives are usually in for a rude shock. Hopes of escaping a dreary existence, of finding direction and purpose, generally sink in a sea of responsibility. With no one to watch the child, school becomes impossible, if not irrelevant. And despite the harsh lessons of experience, many remain careless or indifferent about birth control. About 15% of pregnant teens become pregnant again within one year; 30% do so within two years. "You ask, 'Why didn't you come in for the Pill?' and they...

Author: /time Magazine | Title: Children Having Children | 6/21/2005 | See Source »

...there was near unanimity about the virtue of the rescue mission itself. President Reagan somberly supported the decision to go in. So did the hijack survivors, including Pilot Hani Galal, who had told the tower at Valletta, "Please do something. They're going to kill us all." The same shock coupled with somber understanding had accompanied an anti-terrorist assault 17 days earlier in Bogotá, Colombia, where at least two dozen terrorists died, along with nearly 100 hostages...

Author: /time Magazine | Title: The Terrorist: An Implacable Enemy of This World | 6/21/2005 | See Source »

...Gramm-Rudman to order cuts totaling some $11.7 billion, half from defense and half from civilian spending that has not been specifically exempted. These reductions, known in federalese as sequestrations, will take effect March 1. Says Senate Budget Committee Chairman Pete Domenici: "It's going to come as a shock to a lot of people who voted for this that there will be sequestering in March...

Author: /time Magazine | Title: Into a Daunting New Year | 6/21/2005 | See Source »

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