America was where the crisis began, with a housing market bubble that corrupted the financial sector.

美国是危机之始作俑者，房产泡沫毁了金融部门。

youdao

He said that the housing market bubble, it is possible only regional, but not nationwide phenomenon and will not trigger share price plummeted economic consequences.

他说，住房市场出现泡沫，有可能只是区域性的，但不会是全国范围内的现象，也不会诱发股价暴跌的经济后果。

youdao

He failed to do anything about the dangers arising from the housing-market bubble and the build-up of private debt.

对于房地产市场泡沫和私人借贷逐渐增长的危险，他又无所作为。

youdao

And they were papered over by massive leverage, credit card debt, a housing market bubble.

WHITEHOUSE: President Obama Closes Forum on Jobs and Economic Growth

The UK stock market has risen 10% since the start of 2013, and is now higher than it has been since the US housing market bubble burst in 2007.

BBC: Solving the puzzle of rising markets

All regulators, and especially the Federal Reserve, were accused of failing to identify the housing market bubble that preceded the financial crisis, and the new council will be charged with spotting such a build-up of risk in the financial system in future.

BBC: Q&A: US Senate's banking regulation bill