Unit 3 Property Boom

UnitThreePropertyBoom1.Lead-in2.TextA:BetweenaRockandaLivingSpace3.TextB:BuildingExcitementLead-inThesearepicturesofthetopsixskyscrapersintheworld.Canyourecognizethem?Matchthepictureswiththeirnames.1)2)3)5)4)6)Lead-inBURJDUBAITheworld’stallestbuildingsituatedinthecityofDubai-828mTaipei101FormerlyknownastheTaipeiWorldFinancialCenter:theworld'stallestfrom2004to2010-509mSWFCShanghaiWorldFinancialCenterthesecondtallestbuildinginChina-492mThePetronas（马石油）TwinTowersSkyscrapersandtwintowersinKuala（河口）Lumpur(吉隆坡),Malaysia-452mTheSears（西尔斯百货）TowerTheworld’sfifthtallestbuildinginthecityofChicago-442mIFCHongKongInternationalFinancialCenterthetallestbuildinginHongKong-420m4)1)2)3)6)5)房地产英语常用词汇•按揭贷款mortgageloan•按揭购房tobuyahouseonmortgage;tomortgageahouse•房屋空置率housingvacancyrate•安居工程ComfortableHousingProject•板楼，板式楼slab-typeapartmentbuilding•搬迁户arelocatedunitorhousehold•炒房者realestatespeculator•房改housingsystemreform•房管realestatemanagement•房产市场realestatemarket•城镇住房公积金urbanhousingprovidentfund•低价住房low-costhousing•二手房second-handhouse•房产估价师realestateassessor•房产证propertyownershipcertificateUsefulExpression•A：Whatisthesquareareaofyourproperty?Howmanybedroomsandlivingrooms?•你的单位面积有多大？有多少间睡房和客厅？•B：Itsgrossareaisapproximatelyninehundredsquarefeet.There'sonelivingroom,onediningroom,onemasterroomandtwobedrooms.•建筑面积约九百平方英尺，有一个客厅、一个饭厅、一间主人套房和两间睡房。•B：MayIknowthesize,thelayoutofthehouse？•可否告诉我那个单位的面积、间格怎样的？•A：Sure.Theareaofthisflatisaroundninehundredsquarefeet.Itisdesignedasonelivingroom,onediningroom,onemasterbedroomandtwobedrooms.•当然可以。房子面积约九百平方英尺，单位设计为一个客厅、一个饭厅、一个主人套房和两个睡房。B：Howaboutthepriceandthebankmortgage？•售价和银行贷款如何？•A：TheaverageunitpriceisfivemillionHongKongdollars.Thereareeightdifferentbanksthatwillprovideaseventypercentmortgageloan.Also,thedeveloperwillofferanothertenpercentmortgagetopurchasers.•平均售价约港币五百万元，。有八间银行提供七成按揭贷款，而发展商亦可提供另外一成的按揭给认购者。'SubprimeMortgage'•Atypeofmortgagethatisnormallymadeouttoborrowerswithlowercreditratings.•Asaresultoftheborrower'sloweredcreditrating,aconventionalmortgageisnotofferedbecausethelenderviewstheborrowerashavingalarger-than-averageriskofdefaultingontheloan.Lendinginstitutionsoftenchargeinterestonsubprimemortgagesataratethatishigherthanaconventionalmortgageinordertocompensatethemselvesforcarryingmorerisk.••TheU.S.subprimemortgagecrisiswasanationwidebankingemergencythatcoincidedwiththeU.S.recessionofDecember2007–June2009.•Itwastriggeredbyalargedeclineinhomeprices,leadingtomortgagedelinquencies(按揭拖欠）andforeclosures(止赎）andthedevaluationofhousing-relatedsecurities.•Declinesinresidentialinvestmentprecededtherecessionandwerefollowedbyreductionsinhouseholdspendingandthenbusinessinvestment.Spendingreductionsweremoresignificantinareaswithacombinationofhighhouseholddebtandlargerhousingpricedeclines.•Thecrisishadsevere,long-lastingconsequencesfortheU.S.andEuropeaneconomies.TheU.S.enteredadeeprecession,withnearly9millionjobslostduring2008and2009,roughly6%oftheworkforce.Oneestimateoflostoutputfromthecrisiscomestoatleast40%of2007grossdomesticproduct.•U.S.housingpricesfellnearly30%onaverageandtheU.S.stockmarketfellapproximately50%byearly2009.Europealsocontinuedtostrugglewithitsowneconomiccrisis,withelevatedunemploymentandseverebankingimpairmentsestimatedat€940billionbetween2008and2012BetweenaRockandaLivingSpacebetween___and___betweenthedevilandthedeepseabetweenarockandahardplace进退维谷,进退两难StructuralAnalysisPara.MainTopicsPara.1-3Anintroductionofthecurrentsituationofpropertyboomandabriefanalysisofreasonsandlessonslearnt.Para.4-15Adetaileddiscussionofwhatpolicymakersandfinancialregulatorscoulddotocontrolthepropertybubblesandavoidthecrisis.Para.16-20AsummaryoftheeconomicsituationbothintheUSandintheEuropeaftertheburstingofthebubblesandwhatcanwelearnfromit.unprecedented(Line.7,Para.1)adj.neverhavehappenedbefore…example:•anunprecedentedexpansioninpopulationandindustry•Suchamoveisrare,butnotunprecedented.PartIWordsandExpressionslunatic(Line7,Para.1)adj.insane,veryfoolishandpossiblydangerous疯狂的，愚蠢地example:•Hepleadsforsanity（明智；头脑清楚）inalunaticworld.•Theman’slunaticbehaviorisamenacetosociety.PartIWordsandExpressionsunderwriting(Line3,Para.2)underwritev.Ifaninstitutionorcompanyunderwritesanactivity,theyagreetoprovideanymoneyneededtocoverlosses为…提供经济担保example:•Thegovernmentwillhavetocreateaspecialagencytounderwritesmallbusinessloans.underwritern.保险公司，担保人PartIWordsandExpressionsodds(Line.9,Para.2)n.(pl.)theprobabilityofaspecifiedoutcome可能性，几率example:•Whataretheoddsoffindingaparkingspacerightoutsidethedoor?•Theoddsarethatyouaregoingtofail.PartIWordsandExpressionsSomeotherphrasesusing“odds”againstalloddssth.happensorsucceedsalthoughitseemedimpossibleorveryunlikely尽管困难重重•Somewomendomanagetoachievebusinesssuccessagainstallodds.atoddsdisagreeingorquarrellingwitheachother不和，有矛盾•HewasatoddswithhisPrimeMinister.PartIWordsandExpressionsdefault(Line.9,Para.2)n.actoffailingtomeetafinancialobligation违约，不履行example:•Thecompanyisindefaultontheloan.•Thecorporationmaybechargedwithdefaultonitscontractwiththegovernment.PartIWordsandExpress