Homebuyers face two income households and mortgage reliance
A National Association of Realtors survey shows last year’s typical homebuyer came from a two-income household, bought an existing 1650 square foot home for 65642, and relied on loans for a down payment. Repeat buyers with equity had higher incomes and easier financing than first-time buyers, who were younger and more likely to use S&L and conventional ARMs. Tax deductions for interest and real estate taxes were cited as attractive but have drawn Treasury scrutiny, potentially affecting future housing activity.
MENTIONED IN THIS ARTICLE
National Association of Realtors
Savings and Loan Association
Treasury Department
Congress
Syracuse Herald Journal Business and Real Estate Notes
Business and real estate items from the Syracuse Herald Journal dated Friday March 8 1985. James H. OConnor executive business editor reports market and property news with briefs from Syracuse area firms and leaders.
Citicorp presses Maryland bid for full bank services
Citicorp seeks legislative approval to operate a full service Maryland bank and build an East Coast credit card center employing at least 1,000. Maryland officials praise the move as economic boost while local bankers vow to oppose changes before April 9.
MENTIONED IN THIS ARTICLE
Citicorp
Maryland
General Assembly
New York Tel Rate Increase Spurs Loud Public Hearing
More than a dozen speakers at a Syracuse public hearing opposed New York Telephone's request for a 775 million rate rise that would lift the average Syracuse bill from 22.32 to 28.35 dollars monthly. Critics called the move a luxury item, with Basic Budget charges rising to 6.48 dollars for most, except those on public assistance. Deborah Di Lauro and Oscar Boyadjian urged PSC to protect vulnerable customers and questioned the need for higher data and toll services. The PSC will rule by mid October.
MENTIONED IN THIS ARTICLE
New York Telephone Co
John W. McCann
R-Chittenango
McCann
Lincoln Junior High School
Syracuse
Rosemary Pooler
State Public Service Commission
New York Tel
New York
Bell System
PSC
Deborah di Lauro
Syracuse Consumer Affairs Office
di Lauro
Oscar Boyadjian
Clay
New York Telephone
Chrysler to build compacts in Japan and fancy cars at home
Chrysler chairman Lee Iacocca unveiled a new strategy after import restraints were lifted. He said 80 percent of Japanese Chrysler imports will be economical subcompacts while American production shifts to fancier models. The plan cuts Belvidere P-car output to 150 000–160 000 and moves more production to Sterling Heights as the company seeks a new plant lineup and aims to preserve jobs.
MENTIONED IN THIS ARTICLE
New York
Chrysler Corp
Lee Iacocca
Japan
Chrysler
Mitsubishi
Belvidere
Sterling Heights
Mich
Heaven and Earth
Omni
Horizon
Tacocca
Iacocca
Banks lead LR A race as securities firms prep 1984 IRA data
Banks and thrift institutions hold nearly two thirds of the 132 billion LR A accounts at end-1984, while mutual funds expand the IRA market. The Investment Company Institute notes mutual funds held about 1 billion of LR A assets, with money market funds 30 percent, equity 48 percent, and income funds 22 percent. JRA allocations show banks 28.1 percent and other institutions filling the rest. The piece discusses tax deductible IRAs, zero coupon bonds converted to 1,000 face value, and tax-exempt securities for savers.
MENTIONED IN THIS ARTICLE
Investment Company Institute
I.R.A
Institute
GONG
J.r.a.’S
I.r.a.’S
I-R.a
Fredric B. Garonzic
Goldman, Sachs
Also Mentioned on This Page
Syracuse Herald-Journal
James H. O'Connor
U.S
Conference Board
Fabian Linden
Consumer Research Center
Apple Computer
Apple
American Dental Association
Council On Dental Therapeutics
Procter & Gamble
E.S.M. Government Securities
Bradford Trust
E.S.M
E.S.M. E.S.M
Treasury
Rockwell
Pentagon
National Intergroup
Bergen Brunswig
U.S. Federal Reserve
Paul Volcker
London
American Natural Resources
Coastal Corp
American
Houston Natural Gas
Tokyo Stock Exchange
Ecords
Africa
Canada
Chil
Faichei Aei
Euromoney Magazine
Saran Swansen
UPI
Banks
Commercial Banks
Ife Insurance "Panies
Mutual Savings Banks
Credit Unions
Chicago Tribune
Internal Revenue Service
IRA
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