报告的作者之一Bill Maxted表示，债务的积累—以及迅速再融资如此巨大规模资金的需要—是商业地产前景依旧黯淡的另一原因。

That overhang of debt—and the need to refinance so much of it swiftly—is another reason why the outlook for commercial property remains blighted, says Bill Maxted, one of the authors.

youdao

在老特拉福德，自从格雷泽入主以后票价涨得不是一点两点，2006年8月即他们还在寻求再融资的时候，这项政策还被冠以“商业美德”的头衔。

There, ticket prices have been increased significantly since the Glazers took over, a policy presented as a commercial virtue when they sought the refinancing in August 2006.

youdao

当前的经济压力已经致使类似商业住房抵押贷款证券这类金融资产大幅贬值。

Current economic pressures have led to wide-scale devaluations of assets such as commercial mortgage-backed securities.

youdao

Then I want to talk about mortgages, which is the way that we finance both commercial and owner-occupied real estate.

然后再讲一下抵押贷款,它可以为,商业地产和自住房产提供融资

耶鲁公开课 - 金融市场课程节选