WHERE are house prices most overvalued?
哪里的房价被高估得最厉害？
But what if real estate isn't overvalued?
但如果房地产没有被高估呢？
You overvalued the high tech of that product.
你对那种产品的高科技性评价过高了。
At the peak of the bubble, they were 40% overvalued.
而在泡沫最大的时候，房价被高估了40%。
Property is surely even more overvalued by now.
截至目前，房地产市场被高估已经是显而易见的事了。
Many, perhaps all, Internet stocks are hugely overvalued.
很多，也许是所有的网络股都被大大高估了。
Most striking is the New Zealand dollar that is 29% overvalued.
最让人吃惊的是新西兰币被高估29%。
All are more overvalued against the dollar than a year ago.
所有这些货币对美元汇率都比一年前要高。
The importance of scientific research cannot be overvalued.
科学研究的重要性无论怎样估计都不过分。
Indeed the significance of good reading cannot be overvalued.
确实，读书的意义再怎么高估都不过分。
Thus, it is more likely to be overvalued than foreign markets.
因此，美国股市也比海外股市更有可能估值过高。
But the Big Mac index suggested that the euro was already overvalued.
但是巨无霸指数表明欧元的估值已经过高。
The importance of scientific research cannot be too overvalued.
科学研究的重要性怎么评价也不过分。
Nor is the dollar as obviously overvalued as it was in 1985 (see chart 10).
况且美元币值也不如1985年时那样明显的被高估(见图十)。
There are some plausible fundamental explanations. They may have been more overvalued to start with.
似乎可信的解释是，这些公司可能从一开始就被高估。
There are some plausible fundamental explanations. They may have been more overvalued to start with.
似乎可信的解释是，这些公司可能从一开始就被高估。
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