2000 dollars a year was definitely considered a lot at this time; an imported 14-inch color TV cost around a thousand dollars. Appliances were among the most expensive consumer goods at the time, and since houses were not being bought or sold, the concept of home ownership had not yet taken root in the minds of the people. Bicycles were the main mode of transportation, and seeing a motorcycle on the street was already quite impressive. A price of over 2000 dollars a year was not something an average person could afford.
As for cars, that was even more unimaginable. The price of imported luxury cars was astronomical, far beyond what ordinary people could conceive. Any four-wheeled vehicle seen on the road was worth several thousand dollars. The trucks that Kay and Leo used for transportation cost over 40,000 dollars, including taxes, while the military green Jeep 212 was slightly cheaper, priced at nearly 40,000 dollars.
What could be more expensive than cars? No one could even imagine. There’s a saying in later years: poverty limits everyone’s imagination!
“Whether you know each other or not doesn’t affect my collecting rent.”
Grandma Johnson spoke in her usual unapproachable manner. Whitaker Scarlett knew her character well and didn’t mind at all. As long as she could rent the house, she didn’t want to take advantage of an old lady; whatever the price was, it should be fair.
The three parties sat down to discuss, and Whitaker Scarlett wanted to rent for ten years.
Manuel glanced at Grandma Johnson and hesitated, “Will the rent remain unchanged?”
Even the price of pork had risen, and various prices were on the rise. The economic reforms had invigorated the economy, and it was impossible for the state to set all prices anymore. Manuel was actually quite upright; although William had helped his family, he was considering Grandma Johnson—2000 dollars a year in rent was all for her, while the benefits allocated to the National Cotton Mill were the usage rights of the other rooms in the small building. In 1983, the National Cotton Mill No. 3 could generate two to three million dollars in profits for the state each year; 2000 dollars was not something the factory leaders would take seriously.
If they needed that money, it would be better to allocate more housing to the workers. With over ten thousand workers in the factory, the housing issue for employees was waiting to be improved.
At present, 2000 dollars was still quite valuable. After 1985, prices would soar. Whitaker Scarlett wasn’t a typical greedy person, but she wasn’t a complete fool either. Did she really feel sorry for an old widow like Grandma Johnson?
Don’t be ridiculous; in reality, Grandma Johnson was quite wealthy, but she just couldn’t sell the house right now.
“Then let’s increase the rent by 10% each year. The first year will be 2000 dollars, the second year 2200 dollars, the third year 2420 dollars… By the last year of the lease, I will be paying over 4700 dollars.”
Increasing by 10% each year would double the rent over ten years.
Manuel thought it was acceptable.
Whether a small business could last for ten years was uncertain. This year they could pay the rent, but who knew what next year would bring? However, Manuel hoped Whitaker Scarlett could rent for a long time, so the workers allocated housing wouldn’t have to keep moving.
“Okay, let’s do it this way.”
In total, the ten-year rent would amount to about 32,000 dollars. From 1983 to 1993, and into the early 1990s, 32,000 dollars was still quite valuable. Not to mention, Grandma Johnson could rely on this money for her daily living, ensuring she wouldn’t have to worry about food and clothing in her later years.
As for what would happen ten years later, what would the old lady do?
Whitaker Scarlett smiled, “I have an additional condition.”
She wanted the right of first refusal to buy the small building.
In a few years, the ownership of this property would hopefully be clarified, and she could buy the building, negating the need to build a new one. Neither Grandma Johnson nor Manuel opposed Whitaker Scarlett’s suggestion.
It was settled!
All three signed the contract, and Whitaker Scarlett immediately paid the first year’s rent of 2000 dollars. With one hand she handed over the money, and with the other, she received the keys.
Manuel was also quite pleased. The small building had three floors; aside from the ground floor shop, the upper two floors were all rooms, and there was a yard behind, which could at least accommodate ten households of workers.
He personally saw Whitaker Scarlett and the others out. Just then, Caroline from the factory came looking for Manuel and caught sight of the three figures.
One of the figures looked oddly familiar, but Caroline didn’t think much of it.
“Director Manuel, don’t you think our department should get two housing allocations this time since the factory is distributing houses?”
