The bigger question is what effect double-digit house-price declines would have in a country where consumer debts have soared on the back of housing wealth.
一个很大的问题是,由于房价增长而大大增加了这个国家消费者的债务负担,可是当房价下降百分之十以上时会产生什么样的影响。
As house prices fall in America, Britain, Ireland and Spain, the wealth effect kicks in.
随着美国,英国,爱尔兰和西班牙的房价下跌,财富效应开始呈现。
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