Word: sellers
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Dates: during 1970-1979
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...sale of a family home. At present, profits on such a sale are not taxed so long as they are reinvested in another home within 18 months. Treasury now proposes in addition to exempt the first $75,000 profit on the sale of a home even if the seller puts the money in the bank rather than using it to buy another house...
Your story failed to mention the contribution that real estate agents' fees have made to soaring real estate prices. Such fees on a $70,000 home are between $4,200 and $7,000 (6% to 10% of the selling price). Because the seller pays the agent to sell his property, he adds an additional 6% to 10% to the selling price of the house. As a result, housing prices are inflated by thousands of dollars every time a house is sold. Since we Americans are moving at an increasing rate, currently once every three years, it is easy...
Brokers' commissions on each stock trade have fallen drastically since May 1975, when the SEC outlawed fixed commissions and ordered brokers to negotiate with traders. The month before, commissions paid by institutional investors averaged 26? a share; now they average 14? and a big buyer or seller can bargain the rate down to as little as 5?. Commissions paid by individual investors have fallen much less-from 30? a share on the average to 28.5?-but that is small consolation to brokers. The vast bulk of their business comes these days from institutions, pension funds and trusts...
...salesman in an adult bookstore could be prosecuted as an active participant in the crime of sexually exploiting the children pictured in the store's magazines. New York Lawyer Charles Rembar, who successfully defended Lady Chatterley's Lover and Fanny Hill against obscenity charges, thinks the seller of child porn is a suitable target: "It is totally unrealistic to say that the people who sell these magazines and films are not involved in the act themselves." Yet other lawyers consider a broad child-abuse law a form of backdoor censorship. Says Ira Glasser of the New York Civil...
...bassist John McVie sailed smoothly, her betrothal to Fleetwood Mac did little to improve their fortunes. Once again the group shifted its roots, this time by recruiting a Southern California couple, Lindsey Buckingham and Stevie Nicks. With this duo's song writing, the group recorded its four-million copy seller...