Decade of increases Home prices begin decline.
After a long period of gains, U S home prices show a cooling trend with inflation adjusted values down about 10 percent in the last year. While nominal prices rose sharply over the decade, real prices softened, prompting questions about housing as a savings vehicle and investment. Experts say housing remains a long term safe asset but not the sole path for inflation protection. The National Association of Realtors cites September resale prices at 79700, up from 75500 a year earlier, noting real prices fell about 10 percent after accounting for inflation and favorable financing.
MENTIONED IN THIS ARTICLE
New York
America
Edward J. Kane
Ohio State University
Reagan
Washington
National Association of Realtors
Dollar Gains Easy, Gold Dips on World Markets
Global markets show the dollar rising against most currencies while gold prices retreat. Midmorning rates lift the dollar versus West German marks Swiss francs French francs and the Italian lira but slip versus the British pound and Japanese yen. China reports an $400 million trade surplus for January–August 1981 with exports up 12.4 percent and imports up 8.7 percent. Morgan Guaranty Trust cuts prime rate to 16.5 percent, the lowest in nearly a year as credit demand wanes.
MENTIONED IN THIS ARTICLE
London
Tokyo
Europe
Zurich
New York
Commodity Exchange
China
China Daily
Morgan Guaranty Trust Co
Consumer spending seen sluggish until jobs improve
Ann Arbor based University of Michigan survey of 2,000 Americans between July and September finds consumer spending will remain slow in early 1982. Improved employment is required for meaningful gains, with attitudes mapping to softer demand until job conditions improve.
MENTIONED IN THIS ARTICLE
Ann Arbor, Mich
University of Michigan
Consumer Confidence Dims as Savings Use Declines in 1981
Richard T. Curtin reports the University of Wisconsin survey showing fewer families view housing and car purchases as favorable amid easing rates. Only 19 percent expect favorable conditions for buying a home and 50 percent for cars, with 28 percent willing to use savings, down from 35 percent in 1979. Inflation projected at 6.9 percent next year.
MENTIONED IN THIS ARTICLE
Richard T. Curtin
Institute For Social Research
Curtin
Penney gains while Kmart posts sharp drop in third quarter
J C Penney reports a 45 percent rise in quarterly earnings to 86 million dollars from a year earlier and sales of 2.93 billion. Kmart posts a 54 percent decline to 14 million dollars in the quarter, with 4.02 billion dollars in sales helped by aggressive pricing but squeezed gross margins.
MENTIONED IN THIS ARTICLE
Associated Press
J.C. Penney Inc
Kmart Corp
Kmart
U.S
Troy
J.C. Penney
Penney
Petey
Treasury
Sears, Roebuck & Co
Penn Central Gains Colt Deal Then Seems Lost
Proxy vote review begins after a preliminary count shows Penn Central Corp trailing Colt Industries by a narrow margin. About 21 million votes cast with 10.2 million opposed, 10.1 million in favor, and 737,000 abstentions. Unresolved votes could swing the outcome, with a final tally likely to face court questions. Colt, adjacent to the state Fairgrounds, makes steel and engines. Penn Central spans real estate energy and electronics.
MENTIONED IN THIS ARTICLE
Penn Central Corp
Colt Industries Inc
New York
Penn Central
Penn Cntral
Colt Industries
State Fairgrounds
Your Money's Worth in the New Consumer Climate
In the 1980s readers are advised to start with a courteous written request to the company and keep copies of all papers. If ignored, write to the president with details of the complaint and evidence, and escalate only if needed. Avoid sending originals and never flood authorities without attempting direct resolution first.
MENTIONED IN THIS ARTICLE
Ralph Nader
Federal Trade Commission
Start complaint politely and seek voluntary groups
Begin by polite complaint and explore voluntary groups such as the Better Business Bureau or the local Chamber of Commerce. The BBB can offer informal arbitration if the firm agrees, otherwise contact government agencies, licensing bodies, or the FTC. Consider mail fraud options, small claims court, or contingency solicitor if needed. Maintain calm, document actions, and pursue official avenues.
MENTIONED IN THIS ARTICLE
Better Business Bureau
Chamber of Commerce
BBB
Education Department
Consumer Protection Law Enforcement
State Attorney General's Office
Consumer Protection Agency
Federal Trade Commission
Washington
Small Claims Court
Also Mentioned on This Page
Source
National Association of Home Builders
Business Digest
Investment Supermarket
American Stock Exchange
Ford
Carter
Morgan
Bernard M. Fauber
Fauber
Ben Laden
T. Rowe Price Associates
Baltimore
Ray Stone
Philadelphia
Fidelity Bank
Onondaga-Madison Boces Lakeside
Cummins Mohawk Diesel Inc
Paul Beyers
Thomas Chapman
BOCES
Lance Reagan
Marcellus Central School
Theodore Pease
East Syracuse-Minaa Central School
Sylvia Porter
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