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Condominium
Ownership of a divided interest, i.e., a home ownership arrangement in which the owner has title to a housing unit within a structure, and a proportionate interest in the common grounds.
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Constructive
Meaning or definition given to an act, fact. Or thing through legal or juridical interpretation.
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Stagflation
Increasing prices during a slowdown in economic activity.
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Housing Expense Ratio
The ratio of housing expense to borrower income. This ratio is one factor used in qualifying borrowers.
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Asset Allocation
Long-term investment plan strategy under which all of the investor’s investable assets are divided into predetermined proportions among several different types of securities. In theory, since these investments are placed into different classifications, each classification is subject to a different market cycle; therefore, the value of all investments should not incur a steep decline at the same time. Thus, such a portfolio approach should always have winners. Some specialized variable dollar annuities offer such an approach.
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