首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
When Britain’s long-bubbly housing market slumped in 2008, few expected a quick rebound. After the last big house-price crash, i
When Britain’s long-bubbly housing market slumped in 2008, few expected a quick rebound. After the last big house-price crash, i
admin
2017-04-29
19
问题
When Britain’s long-bubbly housing market slumped in 2008, few expected a quick rebound. After the last big house-price crash, in 1989, it took almost a decade for prices to recover to their previous heights, even in nominal terms. Yet this time around they have managed it in about half that time. In London, prices are already 25% above their 2008 peak, and are now rising at a rate of 18% a year. The average home in the capital costs more than £ 450 000; in some neighborhoods the average house price is more than ten times the average income. What explains this dramatic recovery, and the rising prices in London in particular?
One cause is financial. Prices entered a downward spiral during the recession, as banks gave out less generous mortgages, which meant that only people with substantial cash deposits could get together the money to buy a house. Since then, thanks to government subsidies, 95% loan-to-value mortgages(for which the buyer needs a deposit worth only 5% the value of the house)have reappeared. The number of new mortgages approved for house purchases has increased by about one-half in the past year. Meanwhile, thanks to the policies of the Bank of England, interest rates are low, meaning people can afford to borrow large amounts. Yet cheap money is back all over Britain, and prices have not risen equally everywhere. In London and the more affluent parts of the southeast, they are soaring. But in most of the north of England, they are still substantially below 2008 levels.
The London phenomenon is due to a restriction of supply at a time of soaring demand. In the north of England, slow economic growth, low population growth and plenty of new construction mean that there are lots of homes and not all that much demand for them. In London and the southeast, by contrast, tight planning rules and a shortage of land mean that relatively little new housing is being built, even as a booming economy and spectacular population growth create lots of demand for it. Tight "green belts"—areas in which most new construction is banned—surround London and small, pretty cities such as Oxford and Cambridge, making it difficult to build new suburbs. Tall apartment blocks are constricted by laws protecting the skyline, and by the difficulty and expense of acquiring land and demolishing(拆毁,毁掉)existing homes.
That suggests that unless there is more construction, prices in London and the south east will continue to climb, at least as long as interest rates stay low, the population keeps growing and there isn’t another financial crisis.
What pushed down the prices of houses during the recession?
选项
A、Layoffs of workers.
B、Less cash in the market.
C、More people selling houses.
D、Unfavorable policy of banks.
答案
D
解析
转载请注明原文地址:https://jikaoti.com/ti/oDNFFFFM
0
大学英语六级
相关试题推荐
CertainphrasesonecommonlyhearsamongAmericanscapturetheirdevotiontoindividualism:"Doyourownthing.""Ididitmywa
A、Ithasthemostaggressivepolicies.B、Ithasthehappieststudents.C、Itisaveryexpensiveprivateschool.D、Itislocated
ItiscommonlybelievedintheUnitedStatesthatschooliswherepeoplegotogetaneducation.Nevertheless,ithasbeensaid
A、Consultthescienceteacher.B、Improvetheteachingskills.C、StopteachingPaulafterclass.D、Takeiteasyandletitbe.D在
A、Sheshouldhavespentlesstimetorenovateherhouse.B、Sheshouldhavesavedenoughmoneyforherplan.C、Sheshouldhavesp
Haveyoueverwantedtotravelbackthroughtimeandseewhatlifewaslikeatthedawnofman?Well,museumscanmakehistory【B
A、$28for12recordsandavase.B、$28for12records.C、$25for12records.D、Nothing.B根据对话,最后店主让步到$28卖出12张唱片,还要送顾客一个花瓶,但顾客说st
黄河流域(basin)是中国古代文明的发祥地,因此黄河被称作中华民族的母亲河、中华文明的摇篮。
Forthispart,youareallowed30minutestowriteashortessayentitledWhyIsItDifficultforCollegeGraduatestoFindaJo
EdgarPoe,anAmericanwriter,wasbornin1809.Hisparentswereactors.Edgarwasababywhenhisfatherleftthefamily.Hew
随机试题
精神刺激可导致气厥实证反复发作,为防止复发,平时可服气厥虚证亦有反复发作倾向,为防患于未然,平时可常服
拔除左上6采用的麻醉方法是经检查发现已穿通上颌窦,但估计穿孔孔径为4mm左右,正确的处理方法是
女性,28岁,腹痛、腹胀6月,加重伴发热十余天,体重减轻,肝大肋下1.0cm,脾未及,移动性浊音阳性,腹水检查,比重1.018,蛋白含量42g/L,您考虑最可能的诊断是
(2016年)对于下列起诉,哪些不属于行政诉讼受案范围?
X公司的产品利润率很高,但占有的市场份额很小,为了扩大生产规模,公司力图通过向银行借款融资来满足资金需要。但银行在对X公司考核后认为X公司不符合贷款条件。X公司转而希望通过上市股权融资来获取资金,但公司市场份额很低,没有通过监管机构的审核。最后,X公司获得
杨惠之:罗丹()
Scientificadvancessometimescomeaslightningflashesofinspiration.Butwhenscientistssitdowntorecordandtakecredito
在外部设备中,扫描仪属于
A、Teachingisnotahighpayingjob.B、Graduatesarenotinterestedinteachinganymore.C、Mostofthegraduatesmajorinscien
Ifyoudidn’tknowanybetter,youmightthinkthatStar,Snuppy,CCandANDiwerejustabunchofinterestingnames.You’donly
最新回复
(
0
)