He identifies a new, emerging "secondary equity gap".

他指出，一个新的“第二股权空隙”正在出现。

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Few would opt to renege on their mortgage if the equity gap were below 10% of their home's value, the authors find, partly because of the costs of moving.

该研究的作者发现，如果还贷缺口在房屋价值的10%以内，几乎没人会选择贷款违约，一部分原因是搬迁费用不低。

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Additionally, the equity required to refinance those loans will also increase, exacerbating the equity gap for those loans.

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And the euro will recover against the dollar, argues Mr Crise, only if the gap between equity risk premiums in America and Europe is closed.

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"Despite the recent rise in equity markets, we believe an enormous gap exists between the apparent bullish consensus on equities and effective low positioning in equity markets, " Didier Duret, chief investment officer for the private bank of Dutch financial services giant ABN Amro, told clients last week.

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