Pricesupandupinrecentyears,beforethehousingbubbleburst.
在房地产泡沫破裂前,最近几年里房价不断上升.
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Whetherthatwouldhavestoppedthehousingbubbleisopentoquestion.
这是否能防止房产产生泡沫并未可知.
Officialstatisticsmostlikelyunderestimatethesizeofthehousingbubble.
这些官方数据极有可能低估了住宅市场泡沫的规模.
Firstcametheburstingofthetech-stockbubble,nowtheburstingofthehousingbubble.
先是科技股泡沫的破裂,现在是房地产泡沫的破裂.
Butsomeseematleastasconcernedaboutdefiningwhenthehousingbubblebegan.
不过,有些人看来至少也同样关心怎样定义楼市泡沫是何时开始的.
Manyofthemthoughtthehousingbubblewouldpoporthedollarwouldfall.
其中许多人想到房差泡沫会破裂,美元会下跌.
Inabsoluteterms,thecreditboomontopofthehousingbubblewasunparalleled.
商业不动产的价格也是一样.
Buthigh-riskloansledtotoday'screditcrisisoncethehousingbubbleburst.
但是,房产泡沫破裂之后,高风险的贷款导致了今日信贷危机.
Moreover,centralbanksmakemistakes,astheFeddidinallowingthehousingbubbletoinflate.
而且,中行的银行家们已经犯了错误,比如说美联储允许房地产泡沫引起的通胀.