It's the final gasp of the burst housing bubble.

它是房地产泡沫破灭前的一次苟延残喘。

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After the failure of Lehman Brothers, many of the world's largest banks feared the worst as the collapse of the housing bubble exposed investments in risky loans.

在雷曼兄弟破产后，许多全球最大的银行都曾担心出现最糟糕的情况，因为房地产泡沫的破裂暴露了它们在高风险贷款方面的投资。

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Now it is a symbol of the housing bubble.

现在又变成房产泡沫的象征。

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Baily is an author and former adviser in the Clinton administration, says after the failure of Lehman Brothers towards the end of 2008, many of the world's largest banks feared the worst as the collapse of the housing bubble exposed investments in risky subprime loans.

VOA: standard.2009.12.20

It arose from the beginnings of the housing bubble -the real estate bubble that we're now in.

而是源自房地产泡沫的初现,也就是如今的房地产泡沫

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And when we bought, it was at the height of the housing bubble,

我们买房子的时候，正是房地产泡沫的最高峰，

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Take away the housing bubble and our economy and jobs barely grew under Bush.

FORBES: How the Demand-Siders Ruined the U.S. Economy

What was clear to most researchers before the housing bubble burst is now ambiguous at least.

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At these levels, if Hong Kong is not a housing bubble, then nothing is.

FORBES: If Hong Kong Isn't A Housing Bubble, Then Nothing Is