当别的地方房价暴跌的时候，休斯敦的人并不担心。
So when prices went into steep declines elsewhere, people here did not worry.
美国房价暴跌影响全球。
历史上有那个国家房价暴跌后经济还能平稳的吗？
Is there any country in history that has managed to grow its economy stably after a property bust?
房价暴跌导致一些列问题层出不穷的原因就在于它是空前的。
One of the reasons the housing slump caused so many problems was because it was unprecedented.
随着美国房价暴跌，赴美购房团成了中国颇受欢迎的旅游方式。
With housing prices crashing in the U. S. , home-buying trips to America are becoming one of the more popular tour group packages in China.
房价暴跌，汽油和日用品价格高得让人心痛，工资已有数年止步不前。
House prices are tumbling, petrol and grocery prices are painfully high and wages have stagnated for years.
如此说来，房价暴跌将产生大量不良贷款，给中资银行带来巨大影响。
Thus a sharp fall in prices would produce a raft of nonperforming loans and 'would have an outsized impact on Chinese Banks.
一个典型的美国人的大部分财富和房产联系在一起，这样，房价暴跌产生的威胁带来了恐慌。
So much of a typical American's wealth is tied up in bricks that the threat of house-price deflation stokes panic.
我们目睹了1990年后房价暴跌，以及1991年的经济衰退，这就是20世纪80年代的重大事件。
We saw a collapse in real estate prices after 1990 and a recession in 1991, so it was the big story of the 1980s.
居民收入水平高，增长快，就业与收入的双增长使得此前遭受房价暴跌冲击的地产市场得以保持高位价格。
Incomes are high and rising, and the combination of job and income growth has buoyed a property market that was battered by the housing bust.
现在让加拿大和其它国家担心的是，上涨的房价可能会回落，而无数历史经验足以表明，房价暴跌会给经济带来严重危害。
The worry in Canada and elsewhere is that what goes up might come down, and history amply illustrates the economic harm done when housing prices plunge.
在当前的危机中，房价暴跌、刚刚开始的通缩和消费下滑导致的实际债务负担加重主要由过度负债的美国居民部门承担。
During the current crisis, overly indebted U. S. households are at the core of the rising real debt burden from collapsing home prices, incipient deflation, and declining consumption. Clumsy u.
但是房价暴跌、房产被回收和失业率居高不下——作为经济衰退(NBER于2008年12月1日公布)的副产品——让人们损失惨重。
But collapsing property prices, foreclosed homes and soaring unemployment, all effects of the recession which the NBER announced on December 1st 2008, have taken their toll.
美联储自9月中旬起，为了帮助缓解房价暴跌和信贷市场混乱对经济造成的沉重打击，已经把联邦基准利率下调3个百分点至2.25%。
The Fed has lowered benchmark interest rates by three percentage points to 2.25 percent since mid-September to help put a floor under an economy hit hard by a housing slump and credit market turmoil.
尽管更悲观的研究人员认为，中国的房市不可持续，全面的房价暴跌正在到来，但眼下，他们经常挂在嘴边的鬼城并不是推动中国房市下行的原因。
While more bearish researchers believe China's building is unsustainable, and a full-bore meltdown is coming, right now the ghost towns they often cite aren't driving a downtown.
北京也非常希望运用更多可以促使低迷地产市场复苏的措施，尽力防止出现美国式的住房价格暴跌。
Beijing is also widely expected to introduce measures to resuscitate the faltering property market, in an attempt to prevent a U.S.-style crash in home prices.
所以当房价下降，后果比起股票暴跌之类的要更严重。
So when things go wrong, the consequences are more serious than if there is a slump in equities, say.
信贷紧缩或衰退，也可以导致房价在更多国家暴跌。
A credit crunch or recession could cause house prices to tumble in many more countries.
眼下全球股市暴跌、房价下滑，失业率不断上升，但金融危机并没有影响到美国民众过万圣节的好心情。
Global stocks markets are plummeting, house prices are slumping and jobless figures are rising but Americans are not about to let a financial crisis dent their Halloween fun.
佛罗里达、内华达和亚利桑那州的情形也差不多：暴跌的房价，没收房屋的骤增以及飞速提高的失业率。
In Florida, Nevada and Arizona the story is similar: plunging house prices, rising foreclosures and disproportionate increases in unemployment.
房价的暴跌可能导致消费者减少消费，面临贷款损失的银行也会降低放贷额。
Sharp home-price declines can lead consumers to spend less and Banks, hit by loan losses, to lend less.
而在2011年第三季度至第四季度间，经济衰退来袭，债券市场暴跌，欧洲房价不负重压开始跌落。
But from the third quarter of 2011 to the fourth, as recession bit and bond markets wobbled, European house prices came under downward pressure.
为了评估未来房价出现暴跌的风险，我们跟踪了两种价值评估方法。
To assess the risks of a further slump, we track two measures of valuation.
为了评估未来房价出现暴跌的风险，我们跟踪了两种价值评估方法。
To assess the risks of a further slump, we track two measures of valuation.
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