2017考研英语阅读理解题材解析之房市降温

1、2017考研英语阅读理解题材解析之房市降温每年考研英语阅读篇章很多都取材于经济学人，因此考研复习之初，一定要从基础打好，稳扎稳打。考研频道分享经济学人文章，希望大家能够多看、多练，提升阅读能力！考研英语阅读题源经济学人文章：房市降温Thehousingmarket房市Coolit该降温了Propertypricesarerisingswiftly.TheBankofEnglandmayintervene房价一路攀登，英格兰银行可能插手BRITAIN'Shousingmarketislikefoodinamicrowave,saysSpencerDale,thechiefeconomis

2、tattheBankofEngland.Itcan“turnfromlukewarmtoscaldinghotinamatterofafeweconomicseconds".Sincethecrisisthebankhasgainednewtoolstocontrolthemarket'stemperature.Nowthattheheatisrising,itmaysoonstarttestingthemout.英格兰首席经济学家斯宾塞戴尔说，英国房市就像微波炉里的食品，“从经济角度来看，几秒之内就能从温热到滚烫”。自欧债危机以来，银行已经学到了一种控制市场温度的新手段。然

3、而现在随着市场升温，这些新手段或许也要开始接受全面考验。UntillastyearhousepriceswererisingpredominantlyinprosperouscentralLondonboroughs.Thatwaslargelybecauseofaninfluxofcash-richbuyers,saysNealHudsonofSavills,anestateagency.Peoplesawposhpropertyinthecapitalasashelterfromeconomicturmoilabroad.ElsewhereinBritain,thehousingmarke

4、twastorpid.Potentialbuyersstruggledtofindmortgages.Fallingrealwages,economicuncertaintyandthememoryofplummetinghousepricesduringthecrisiscurbedBritons'obsessionwithproperty.繁华的伦敦中心市镇去年房价还在显著上升。第一太平戴维斯房地产机构的尼尔哈德逊称，这种现象主要是土豪扎堆造成的。人们把首都地区豪华时髦的地产看作躲避动荡的国外经济的避难所。在英国的其他地区，房市也很萎靡不振。潜在买家为了房屋贷款垂死挣扎。经济危机期

5、间下降的实际工资、经济的不确定性以及直线下降的房价遏制了英国人对房产的痴迷。Thatchangedin2013.Pricesroseby6.8%intheyeartoJanuary,accordingtotheOfficeforNationalStatistics.TheyarestillincreasingfastestinLondonup13.2%comparedwithlastyearbuttheinflationhasspreadtoouterboroughs.InBrent,anunfashionablepartofnorth-westLondon,priceshaverisen31

6、%inayear,accordingtoareportfromNationwide,abuildingsociety.ItrecordedchunkyincreasesineverypartofBritain.2013年情况有所改变。根据国家统计局数据，直至今年一月，房价已上涨了6.8个百分点。伦敦房价还在以最快速度增长一与去年相比增长了13.2%但是通货膨胀已经变得一发不可收拾，甚至影响到了伦敦以外的地方。据全英房屋抵押贷款协会报道显示，作为伦敦西北部不甚有名的博伦特，其房价一年内就已经上涨了31%。此外，英国各地房价都出现了前所未有的大幅提升。Thesehigherpricesareapr

7、oblemforfirst-timebuyers,buttheyarenotyetunsustainable.Nationally,housepricesremain16%belowtheirpre-crisispeak,adjustedforinflation.Pricesarehighrelativetowages,butthatisnotsurprising.Successivegovernmentshavefailedtofreeenoughlandfornewhousingdevelopments,whiledoggedlypreservinggreenbelts.Borrowing

8、costshavefallenoverrecentdecades,inpartbecauseofaglobalglutofsavings,makingiteasierforBritonstosustainlargemortgages.Neitherfactorislikelytoreverseanytimesoon.对于首次购房者来说，房价更高是一个问题，但是这种价格还可能持续。在全国范围内,房价仍比危机前为了通货膨胀做出调整的峰值水平低16%。房价比工资更高,但这并不令人惊讶。历届政府都未能给新住宅开发用地留下足够空间，而固执地保留绿化带。最近几十年借贷成本下降，部分原因是全球储蓄过剩，使英

9、国人更容易持有大量的抵押贷款。而这两个因素近期都不可改变。Evenso,thehousingmarketisnotoriouslypronetobubbles.InJanuaryMarkCarney,thebank'sgovernor,warnedMPsofthedangersof“extrapolativeexpectations"peoplerushingtobuyontheassumptionthatpriceswillcontinuetosurge.Hintsofthatarevisible.Peopleincreasinglythinkhousepriceswill

10、keepclimbing.Eventhoughthegovernment's“HelptoBuy"schemes,whichsubsidisehigher-riskmortgages,areprobablyhavingonlyamoderatedirectimpact,publicitysurroundingthemhasfedabroaderconvictionthatpricescanonlygoup.即使如此，房地产市场还是容易出现泡沫。1月，央行行长马克卡尼警告国会议员关于“外推预测”的危险一一人们争相把钱投向“房价会持续上涨”这样一个预设(当然这种预设也并非没有可能

11、实现)。人们越来越觉得房价会持续上涨。即使这样，政府提出的平息高风险抵押贷款的“帮助购房”政策也可能只能带来些微影响，因为周边环境和舆论让人们相信房价还是会持续上升。Moreover,asborrowerschasehigherpricestheirfinancesarebecomingstretched.Attheendof2013,theaveragenewloanforfirst-timebuyerswas3.4timestheborrower'sincomethehighestlevelonrecord.Barclays,abank,currentlyoffersmortgag

12、esaslargeas5.5timestheborrower'sincome.Whileinterestratesarelow,paymentsonsuchlargeloansaremanageable.Butwhenrateseventuallyrise,theseborrowerscouldstruggle.Awaveofmortgagedefaults,accompaniedbyfallinghousepricesasbankstrytosellrepossessedhouses,couldcauseyetanotherBritishbankingcrisis.除此以外，由于借款

13、者纷纷朝着高房价房产努力，他们的经济情况也越发紧张。2013年底，首次购房者的平均新增贷款是借款人的收入3.4倍，达到历史上的最高水平。巴克莱银行目前提供的抵押贷款是借款人收入的5.5倍。然而利率低，偿还这种大额贷款还是可行的。但是当利率开始稳步上升时，这些借款者就有点心有余而力不足了。银行试图出售回收房，因而房价下跌，如此一来一波又一波的抵押贷款违约很可能会导致另一次英国的银行业危机。TheBankofEngland'snewFinancialPolicyCommittee(FPC)saysitiswatchingfor“emergingvulnerabilities"in

14、themarket.Formedlessthanayearagotoconfrontthreatstofinancialstability,includingbubbles,itsrangeof“macroprudential"toolsaimtoinfluencethebehaviourofthefinancialsystem.Whereaspoliticianshoperisinghousepriceswillcheervotersaheadofnextyear'sgeneralelection,thecommitteecanaffordtotakealongerview

15、.Withinterestratesexpectedtoremainlowforafewmoreyears,itismullingwhattodo.英国央行的新金融政策委员会(FPC)说他们正在坐等市场“即将出现的漏洞”。金融政策委员会成立不到一年，就面临包括房价泡沫在内的金融不稳定因素的威胁，其职能范围的“宏观审慎”工具旨在影响金融行业的一举一动。而政客们希望上涨的房价可以在明年的大选之前重振选民信心，这样金融政策委员才会做长远打算。由于几年内预计利率仍保持在较低水平,FPC正在考虑该做什么。Dabbingthebrakes踩刹车Oneapproachisstrictervettingofb

16、orrowers.FromApril26thbankswillhavetocheckthatapplicantshaveenoughsparecashtocopeiftheBankofEnglandraisesinterestratesasmarketsexpect(toaround3%in2019).Thatisstillaremarkablylowstandard.Futureinterestratesareuncertain;inpastdecadestheyhavefrequentlyexceeded5%.TheFPChasrequestedthepowertoimposetoughe

17、rinterest-ratetests,andwillprobablyhaveitbythesummer.Thatwouldallowittocurbthesizeofnewloans,withoutincreasingcostsforexistingborrowers.控制局面的一种方法是严格审查借款人。从4月26日起，银行必须检查申请者是否有足够的闲钱应对英格兰银行利率提高的打算(到2019年的3%左右)。事实上这还是一个较低标准。未来利率是不确定的，在过去的几十年,他们经常超过5%。金融政策委员会要求实施更严厉的利率测试，这个测试可能会在夏天。这项测试不增加现有借款人的成本，也可控制新增

18、贷款数额。Exploreandcomparehousepricesin13Britishregionsovertimewithourinteractivehouse-pricetool用交互式房价工具探索和比较13个英国地区不同时间的房价Analternativeismorevigorousstresstestsofmortgagelendersthemselves,usingstringentscenariosthatassumeinterestratesrisesharplywhilehousepricesfall.Forcinglenderstoholdbufferslargeenoug

19、htowithstandsuchashockshoulddeterthemfromofferingtheriskiestkindsofmortgage.除了利率测试，还有一个针对借贷者的压力测试，这个测试使用严格的场景，假设利率大幅上升，房价下跌。强迫接待者承受这样的冲击往往让他们不敢提供风险最高的抵押贷款。KevinDaly,aneconomistatGoldmanSachs,aninvestmentbank,thinkstheFPCwillenforcetougheraffordabilityteststhisyear,possiblyassoonasJune.Thatwouldtakesomeheatoutofthemarket.Itcouldalsobeunpopular.Poorerpeoplewouldhavetosaveforlongertobuyahouse.Wealthyhome-ownerswouldlosethecomfortofswiftlyrisingprices.AndGeorgeOsborne,thechancelloroftheexchequer,wouldp