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Actual housing starts in April fell back to an annual rate of 2,100,000, down about 16% from their peak of 2,500,000 in January. The number of new building permits issued across the nation-an indicator of how many starts will be recorded in future months -took an even sharper fall of 18%, to an annual rate of 1,800,000 units (see chart). That was the biggest monthly drop since the Government began tabulating figures on permits more than 80 years ago. "The widely predicted end of the housing boom of 1971-72 has finally arrived...
...irony of horse racing that its champions-unlike any other great athletes-are worth more after they retire than at the peak of their form. When they retire they go to stud, which means that they are mated to 30 or 35 high-class mares every spring, in the hope that they will reproduce their own good qualities in their offspring...
...spring and summer of 1970, another security problem reached critical proportions. In March a wave of bombings and explosions struck college campuses and cities. There were 400 bomb threats in one 24-hour period in New York City. Rioting and violence on college campuses reached a new peak after the Cambodian operation and the tragedies at Kent State and Jackson State. The 1969-70 school year brought nearly 1,800 campus demonstrations and nearly 250 cases of arson on campus. Many colleges closed. Gun battles between guerrilla-style groups and police were taking place. Some of the disruptive activities were...
Still, the board generally agreed on the picture for the rest of 1973: sheer momentum will propel the gross national product to a new peak of roughly $1,282 billion, a gain of $130 billion from 1972. Last week boom euphoria even lifted the battered stock market; the Dow Jones industrial average leaped 29 points on Thursday, its biggest one-day jump in 21 months. The rise partly reflected news that U.S. international trade has swung back into surplus...
...enjoys a nightmare situation," says a Dallas associate-and that is exactly what Perot has found on Wall Street. Though the stock market last week rebounded from a four-month tail spin, prices as measured by the Dow Jones industrial average have still fallen 15% from their mid-January peak...