COVER

America's House Party (Cover Story)

Record home prices are inflaming passions--and pocketbooks--as never before. Inside our raucous obsession with real estate

How the Boom is Changing Lives (Cover Story)

Some neighbors go back 50 years. Others are newcomers. But teardowns, renovations and sweet, sweet profits have touched them all

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NATION

Inside Watergate's Last Chapter

After 33 years of secrecy, Deep Throat's identity is revealed. But questions persist over his motivations and how valuable a source he really was in the scandal that brought down a President

The Saga Unfolds (Timeline / Timeline)

He helped bring down a President, but for decades Deep Throat's identity was a secret

WORLD

Fast Times in Tehran

Iran's once restive youth is more interested in making money than in politics. An intimate look at how the regime bought off a generation

The Comeback Cleric

Eight years after leaving office, Rafsanjani is poised to become Iran's President again. Will he win over the West this time?

Charm and Defiance (Interview)

Former Iranian President Ali Akbar Hashemi Rafsanjani met with TIME's Scott MacLeod and Nahid Siamdoust to discuss the U.S., Rafsanjani's presidential campaign and Iran's nukes. Excerpts:

HEALTH & MEDICINE

Eat Them Or Lose Them (Food)

Food lovers are developing a taste for heritage breeds ignored by big farms and nearly extinct

BRIEFING

Sidelining the CIA (Notebook)

The CIA director is no longer automatically welcome at National Security Council meetings

On the P.R. Battlefield (Notebook)

The U.S. dispatches psy-ops warriors with plans for pro-American publicity campaigns

ARTS & ENTERTAINMENT

When You Wish Upon TV (Television)

Need surgery? Can't afford college? House too small? If you've got a sad story, the networks would love to help

YOUR TIME

PEOPLE

LETTERS

ESSAY

ALSO IN THIS ISSUE

Breaking That Dirty Old Habit (Time Bonus Section July 2005: Inside Business / Energy)

AN UNLIKELY ALLIANCE OF HAWKS, DOVES AND GREENS HAS A PLAN TO HELP AMERICA GUZZLE LESS GAS. COULD IT WORK?

Fast-Food Face-Off (Time Bonus Section July 2005: Inside Business / Strategy)

THE BURGER WARS ARE HEATING UP AS WENDY'S TRIES, ANY WAY IT CAN, TO RECLAIM ITS TITLE OF SHORT-ORDER INNOVATOR

Risky Business (Time Bonus Section July 2005: Inside Business)

ONE LITTLE-KNOWN AIRLINE IS RAKING IN PROFITS BY PROVIDING TRANSPORT FOR THE PENTAGON

Media: The Paper Trade (Time Bonus Section July 2005: Inside Business / Media)

DIGITAL MAY BE THE NEW PRINT, BUT DON'T TRY TO TELL THIS EXEC THAT PAPERS ARE YESTERDAY'S NEWS. HERE'S HIS READ

Entrepreneurs: Fishing for Black Gold (Time Bonus Section July 2005: Inside Business / Entrepreneurs)

AFTER BATTLING BUREAUCRATS OVER BELUGA CAVIAR, A GROUP OF ENTREPRENEURS MAY FINALLY NET THEIR TASTY TREASURE