The Miami News from Miami, Florida • 9

Jane Bryant Quinn Tuesday, August 10, 1982 The Miami News 9A Consumers cautious about expanding debt Consumers finding it's cheaper to wait Associated Press NEW YORK The Inflation psychosis of the late 1970s Is on the wane. To the deep regret of many cal for a robust economy, were still-well above the levels recorded last" winter when the economy was in steep recession. In June, the Federal Reserve" Board said, consumers took on, $29.74 billion in new Installment debt, up 1.8 per cent from while paying off $28.39 billion, up; 2.1 per cent. The new credit spend-' ing figure was a record. The Federal Reserve Board rei-port also indicated: Outstanding, debt rose $655 million for auto loans in June compared with a $959 million increase in May.

WASHINGTON U.S. consumers took on $1.35 billion more in installment debt than they paid off in June, showing a bit more caution in expanding their debt than in May, a new government report indicated yesterday. The figures showed no sign of any spending boom that might help push the national economy out of its year-long slump. However, the May and June increases in credit spending, though far below levels that would be typi businessmen, no buying panics can be found the length or breadth of the land. Just a couple of years ago, people went heedlessly into hock to buy ex-pensive goods before their Quinn Unlisted Stocks prices rose further.

Today, it is STOCK MARKET PROFILE New York Stock Exchange Tuesday, August 10, 1982 ILLS I W'h rrrr; Ill siiisiiiiiiiii' vi I FT Indus Vi Hardwick IVi 1 Hill Bras 4k Homo Fad 1vi Itvt Intent Dia 14k 1v Invastax 1714 1st eld Ask Agripest 1V 1 Air Fla J25l Alice II II AlM-Shtrar 1 4V Am Matal lla 4 Am Sar J'i 4Vi APECO t32 1112 AT Bliss t't 7 144 Ira lv 24 IV4. 1 JEC Las ISSUES 4Vi Land Rasr 144 1441 11 Atico Fin I 3Vs TRAC TRADED Laxlcon 14 Mallln Ind I Avatar in Brynmr Cp 3 Canaveral Canturl 44 IVs, 2 44, 1V4. 2' Chad Dv Millar Ind IVs Minimart IVi Ormnt Org Panalfab 4 Pay-O-Mat 144 continue to rise: But those are artificial figures, Inflated by the widespread use of seller financing. A seller who can't get his asking price in the present market has two choices: He can cut the house price, or he can help the buyer meet the price by granting him a low-rate mortgage. Some sellers, in fact, may be artificially inflating their house prices, then offering them to buyers at eye-catching mortgage rates like 10 per cent.

But whether you take less in the house price or less in the financing charge, you are still taking less. It's a price cut, any way you slice it How long wijl mortgage rates stay high? The administration's present prediction is for inflation-adjusted real interest rates to stay high right through 1985. If that's the case, you can expect house prices to continue soft. There's no strong reason to rush into the housing market, because prices should not run away from you in the next couple of years. In fact, there is probably more profit today in renting an apartment and keeping your cash in high-Interest bank accounts, than there is in putting that cash into a real-estate investment.

Inflation is expected to pick up in the second half of this year, compared with the first half. But that doesn't mean that a new inflationary boom is under way. Assuming that the administration stays with its economic plan, that federal deficits remain high and that money growth continues slow, disinflation is a good bet. Business conditions will be poor and unemployment high, but price increases should remain below the double-digit level. The price of gold Is up 19 per cent since June, a sign that some investors fear another tussle with in 1 1514.

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780.35 3.99 Florida bank stocks Foreign exchange rates-- (Currencies in U.S. dollars) Argentina (peso) 000049 Bolivia (peso) .0227 Brazil (cruzeiro) .0055 Britain (pound) 1.7040 Canada (dollar) 7890l Chile (peso) 0217 Colombia (peso) .01 Ecuador (sucre) .0175 France (franc) Israel (shekel) .0381 Italy (lira) 000714 Japan (yen) 003822 Mexico (peso) 0204 Uruguay (peso) ,.0758 Venezuela (bolivar) .2330. W. Germany (mark) 3988 Out of sight cheaper to wait than buy. Say, i for example, that you're looking at a $10,000 car.

The terms of the purchase are 25 per cent down, with the rest financed at 17 per cent. Over four years, you'd pay roughly $14,800. Inflation is expected to average 6 per cent through 1984, according to John Ortego, director of inflation planning for Chase Econometrics. Continuing that measure, a $10,000 car might cost $12,600 in 1986. So buying now would cost you $2,200 more in credit charges than you would pay four years from now.

The interest paid on car loans is tax-deductible for the 31 per cent of taxpayers who itemize. In this case, once you've written off your credit costs, the car might cost roughly the same today as it would cost in 1984. But what a change that is! Previously you would have expected the car to be much more expensive in 1984. new arithmetic is changing the way consumers think about expensive purchases. You can now buy a car whenever you happen to want or need it, without feeling any price pressure-to buy in advance.

You have nothing to lose by putting off your purchase for a year. In fact, if you keep your cash in a high-interest bank or money fund account, you have something to gain by saving now and buying later. The same sort of thing is happening with real estate. "I wouldn't buy Investment real estate at this time," says L. Guy Palmer of the financial-planning firm Ayco Corp.

"You'll be a able to get a better deal and a better interest rate at a later date." Officially, median house prices Rolls-Royce to halt Lotus sales in U.S. Associated Press Fla Com'l Fla Nat'l Flagship Gr.Amar, GullstrTn Joff Banc Landmark Pan Amar 2 30 24 25 24Vk 2444 14 144 17V4 44 1044 1144 44 10 14V1 V4 Bid Ask 24 2V4 20V4 -Vi 14'k 1SV4 4 10V4 10 12 12Vi 1IV4 27 27Vi 144k -Vi 14Vi 15V1 a 144 2Vi 27 (44 V4 Atlantic Barnatt Cantury Com Banc City Natl Ellis Exchanga Fst Bnkr Fst M'rina First Fla First St Fla Coast The world's largest hotel, the 3, 174-room Las Vegas Hilton, has added what it calls the world's largest outside glass cab. The 24-foot high cab. built by U.S. Elevator, holds 22 passengers and speeds; up the 30-story building at 500 feet per minute." 1514 2V4 Pop Bsh 1 15V4 V4 12Vt 44 154 Vt sournaasT Southwast Sun Banks tOMPtJTMS PEOSX aWSWZRmO MACHIHZS WORD PROCBSS0HS TYPEWRITERS CALCULATORS DICTATION EQUIPMENT COPIERS i 15 flation.

But raw industrial prices a reasonably good precursor of business and price trends have been sinking like a stone. The end of the consumer buying panic shows up in household balance sheets. Over the past three years, households have sharply reduced their level of debt. Only 54 per cent have credit cards, according to a Roper poll, down from 60 per cent in 1980. Families in general have brought their costs under control.

In fact, consumers are in good condition to extend themselves a little bit and take on debt. But so far, they're not doing it. Relieved of the goad of spiraling prices, Americans seem content to rest a bit from their frenzied shopping of recent years, and wait to see what the future brings. mmm Platinum Bars Gold Bar: Silver Bars All Sizes 'LARGE BUYERS SELLERS DIAMONDS, SCRAP METAL, RARE COINS, ROLEX, ITALIAN JEWELRY BY WEIGHT, COIN FRAMES. CHAINS, CHARMS.

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