Good evening we begin tonight with the housing crisis and home prices which, as someone said today, have gone over a cliff. The housing market has suffered a record plunge in prices with a deep trouble spreading across the country. Nationwide prices dropped more than 15% in April, compared to one year ago.
And for the first time in the history of this closely watched report, home prices were down across the board. ABC’s Betsy Stark is here with us now, and this is not a good report. It’s not, Elizabeth. Today’s report is dramatic evidence that the air continues to get squeezed out of the housing bubble and at a staggering pace. For the nation as a whole, economists say all of the price gains of the last four years have now been erased.
There are no exceptions anymore; prices have now dropped in every one of the 20 biggest cities in the country. And few economists are willing to say the bottom is near. "It is hard to see the turnaround. A lot of the factors that pushed housing prices to drop and have kept them falling are very much still in place." Factors including the biggest glut of unsold homes in decades and a foreclosure crisis that continues to push more homes on the market at lower and lower prices.
The worst price declines were in cities that once enjoyed the biggest price increases. Miami and Las Vegas down almost 27%. Phoenix down 25%. San Diego more than 22%. If there is a silver lining in these black clouds, it is growing affordability - a point the real estate industry has been hammering in a national ad campaign. (Buyer opportunities have never been better.) Hungry realtors say they are starting to see some nibbles.
In Denver today, real estate agent Gretchen Faber said houses in her city are selling faster this spring. "Buyers are feeling like prices have come down or flattened enough that they’re willing to get off the fence." And it’s not just Denver where lower prices have brought back the buyers.
The National Association of Realtors told ABC News that in April the number of houses sold in Detroit, Las Vegas, San Diego, Sacramento, and Fort Meyers, Florida, all jumped by 20% or more. Keep in mind that home sales are at such a historic low that it will take many more months of improvements before the housing market can fully recover. Elizabeth. Alright, Betsy, thanks so much.
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housing crisis : 주택시장 위기
cliff : 낭떠러지, 벼랑, 절벽
plunge : ~ 을 처넣다, ~ 을 빠뜨리다, 뛰어들다, 빠지다, 급락하다, 뛰어들기, 돌진, 급락
* plunge one's hand into hot water 손을 뜨거운 물에 처넣다 / * plunge into a river 강에 뛰어들다.
* take the plunge : (수영장 등에) 뛰어들다, 과감히 하다, 결혼하다 / to finally do something important, difficult, or dangerous after thinking about it
ex. He finally decided to take the plunge and will get married next year.
compared to : ~ 과 비교해서(with), ~ 과 비유해서, ~ 에 비하면
* compare A with/to B : A 와 B 를 비교하다 ex. The results are then compared to the results of previous studies.
* compare A to B: A 를 B 에 비유하다 ex. Shakespeare compared the world to a stage. 셰익스피어는 세상을 무대에 비유하였다.
across the board : 전면적으로, 전반적으로
squeeze : 밀어[쑤셔]넣다 (into), ~ 을 짜다 [압착하다], ~ 을 경제 적으로 압박하다, <돈·물품을> (남에게서) 억지로 빼앗다, 압 착 (하기[되기]), 짜기, 꽉 쥐기, 갈취, 협박, 강요, 궁지, 곤경
ex. Small businesses are being squeezed by heavy taxation.
housing bubble : 주택가격 거품
* bubble : [종종 pl.] 거품, 기포, 거품이 일다, 거품이 일게 하다
ex. lose everything in the real estate bubble 부동산 거품으로 모든 것을 잃다
* bubble up : 비등하다 , 부글부글하다 / to increase and become more obvious
ex. Tension could bubble up again at any time.
* bubble over 거품이 일어 넘치다, 흥분.열광을 억제하지 못하다
* the bubble bursts : 거품이 꺼지다 / If the bubble bursts, a very happy, pleasant or successful time suddenly ends
ex. Three years into her marriage, the bubble burst.
staggering : 비틀거리는, 비틀거리게 하는, 깜짝 놀라게 하는, 압 도 [경이] 적인
* stagger 비틀거리다, 비틀거리게 하다, 흔들거리게 하다, 깜짝 놀라게 하 다, 망연자실하게 하다
as a whole : 전체로서, 총체적으로, 대체적으로
erase : 지우다, 문질러 없애다(rub out), 닦아서 지우다
turnaround : 회전, 전향, 호전, 부실 기업 회생 (작업) / 1. A turnaround is a complete change in opinion, attitude, or method. 2. A turnaround is a sudden improvement, especially in the success of a business or a country's economy.
ex. A new survey shows signs of a turnaround in Northern California's housing market.
* turn around : 경기 따위가 회복되다 [ 회복시키다 ], < 의견 태도 등 > 바뀌다 [ 바꾸다 ]
ex. If the economy turned round the President's popularity would quickly increase.
in place : 적소에, 제자리에, 적절[적당]한 ( ↔ out of place). /to exist and be capable of being used
ex. We didn't have the structure in place to deal with so many orders. 그 렇게 많은 주문을 처리할 조직을 갖추고 있지 않았다.
* put something in place: We need to put safeguards in place to prevent this type of accident occurring again. 안전장치를 갖출 필요가 있다.
ex. The proposal is not quite in place. 그 제안은 그다지 적절한 것은 아 니다
glut : ~ 을 실컷 먹이다, 〔식욕·욕망 따위〕를 채우다, ~ 에 지나치게 공급하다, 공급 과잉
* glut of ~: ~ 의 공급과잉 ex. a glut of cars on the market
ex. Products glut the market. 상품이 시장에 과잉 공급되고 있다.
* gluttonous 대식하는, 탐욕스러운, 욕심 많은 (greedy) (of...).
foreclosure : 담보물을 찾을 권리의 상실, 유질 처분
* foreclose : <저당권 설정자에게> 저당물을 찾아갈 권리를 잃게 하 다, vt.vi. <저당물을> 유질 (流質) 처분하다
ex. The bank was threatening to foreclose on his mortgage.
silver lining : 구름의 흰 가장자리, 밝은 희망 [전망]
ex. Every cloud has a silver lining.
real estate : 부동산
ex. a real estate agent 부동산 매매 중개인
* personal estate 동산 (=personal property ) :
hammer : 해머, 망치, 망치로 두드리다 [때리다], 주먹으로 마구 때리다, (되풀이하여) ~을 역설하다,〔사상 따위〕를 주입하다, 고심해서 만들어내다, 고안하다
* hammer an idea into a person’s head 남의 머리에 사상을 주입하다
* hammer out an agreement 고심해서 합의에 이르다 (= iron out = thrash out )
realtor : 미 공인 부동산 중개사, 부동산업자
nibble : <짐승·물고기가> 조금씩 물어뜯다, 갉아먹다, 조금씩 물어뜯기, (물고기의) 입질, 한입 분량
ex. Mel nibbled at a chocolate cookie.
flatten : ~ 을 평평하게 하다, ~ 을 때려 눕히다, (건물 등을) 쓰러뜨리다, 평평 해지다, 납작해지다
* flatten out : (망치 등으로) 납작하게 때려 펴다, 평평해지다 / if the price or amount of something flattens out or something flattens it out, it becomes lower or less likely to change
ex. This agreement is expected to flatten out the price of crude oil. | |