Word: real
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Dates: during 1980-1989
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...recently offered for sale by HUD for $50,000 (mistake No. 1). I bid $58,100, but lost it to a bid of $54,000 because the Government decided to accept the lower offer even before the bids were opened (mistake No. 2). One bumbled sale a real estate depression does not make. But if it's happening in my neighborhood, you have to wonder whether it won't be happening in others as well...
Homes can still be a good investment -- much of my own money is in real estate, and so is much of the money of most of the successful stockbrokers I know (they sell stocks; they buy real estate). Even if there are fewer baby boomers entering the new-home market, the population continues to grow, and as it becomes wealthier, it will want more living space. So don't buy the new conventional wisdom unreservedly. But even in Los Angeles, where the whole point is to spend more than you can afford, rising values are no longer a given...
Rising home prices may not pay for Junior's education or Senior's retirement. Some real money may need to be set aside as well...
Welcome to the Senior Professional Baseball Association, where the crack of the bat meets the creak of the bone. Founded this year by Arizona real estate developer Jim Morley, the S.P.B.A. is into its first three-month season, fielding eight Florida teams of ex-major leaguers 35 or older (catchers may be 32). Most of the superstars are missing: Reggie Jackson is occupied with his classic autos, Jim Palmer with his underwear, Pete Rose with hawking his tarnished name. But enough good ole boys of summer are participating to help ease the winter of discontent every baseball addict endures between...
...Gorbachev "for real"? Let us look again at the editorial page of the New York Times: "One week ago Russia came of age. She allowed her people all the fun and trappings of a real election -- voting not publicly by show of hands but in private in red-curtained booths behind closed doors." Most people would assume that editorial had been written about Gorbachev's Russia in 1989. In fact, it was written about Stalin's Russia in the 1930s. Gorbachev is certainly not a Stalinist, but he is also just as certainly not a Jeffersonian democrat. We should examine...