宏观立场需要完全正常化以应对各种宏观风险，特别是通胀和房地产市场的风险。
A fully normalized macro policy stance is key to address the macro risks with respect to inflation and the housing market.
但是经济可承受性短时间内大幅度的升高会对金融系统造成相当大的风险，特别是那些投放在房地产市场的贷款。
But a big, sudden rise in affordability could pose considerable risks to the financial system, which is heavily exposed to loans made to the property sector.
这在繁荣的股市和房地产市场特别明显。
This was most evident in the booming stock and the booming real estate markets.
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