Word: california
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Dates: during 1970-1979
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...saddest reports to come from this year's pre-season football camp was the news that Ron Jellison, the fleet California-born running back who sat out last year after fracturing his skull in a 1978 intrasquad scrimmage, had been advised by team doctors not to attempt a comeback...
...Southern California takes the production of baseball players very seriously, and when the Pittsburgh Pirates sent the scouts to see Jellison his neighbors were sure he would...
Ignoring baseball scouts and scholarships, the "California Flash" came east to Harvard because he didn't want his future to depend on his athletic ability. After his decision was made, Jellison found out his father had once been accepted to Harvard but chose to stay in California and get married instead...
...first signs of a housing decline are evident around the country. Average mortgage rates have jumped over two points since January of 1978 to 11.2%, and in California, Colorado, Indiana and other places they are 13% or 14%. Monthly payments are often no longer listed in the handy books real estate agents carry, and salesmen have been forced to use hand-held calculators to compute the numbing bill. Residential loans in Washington, D.C., have virtually halted...
...presence of moneyed buyers, including many foreigners, who do not need or care to bare their finances to banks; nearly two-thirds of the city's co-op purchases are all-cash deals. Elsewhere, bankers and brokers are devising ways to ease the credit pinch on buyers. Some California brokers arrange deals whereby the seller acts as his own bank; he agrees to turn over his condo to a buyer in return for a so-called trust deed, which requires monthly payments directly from the buyer...