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Stocks Can Handle the Housing Chill

机译:股票可以应付房屋的寒冷

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Don't panic, though. History shows that the stock market can hold up as long as a housing slowdown doesn't foreshadow-or cause-a recession. For example, in 1995 builders' confidence slid sharply. But because the economy merely paused without shrinking, the stock market kept rising. Today, many economists believe that the economy, and Wall Street, will once again shrug off housing's troubles. "The markets are increasingly compartmentalizing their concerns about housing," says Michael R. Englund, chief economist of forecaster Action Economics. Bears worry that a housing downturn will hurt because it accounted for such a big share of economic growth over the past five years. The real estate boom created tons of jobs in construction, sales, lending, and related industries. Plus, it gave consumers billions in extra spending power through cash-out refinancing, home-equity loans, and the like.
机译:不过不要惊慌。历史表明,只要住房市场放缓不会预示或导致衰退,股市就可以维持。例如,在1995年,建筑商的信心急剧下滑。但是由于经济只是停滞不前而没有萎缩,因此股市持续上涨。今天,许多经济学家认为,经济以及华尔街将再次摆脱住房问题。预测机构Action Economics的首席经济学家Michael R. Englund说:“市场对住房问题的担忧日益加剧。”空头人士担心,房地产市场的下滑会给人们造成伤害,因为它在过去五年中占了经济增长的很大份额。房地产热潮在建筑,销售,贷款和相关行业创造了大量工作机会。另外,它还通过现金再融资,房屋抵押贷款等为消费者提供了数十亿美元的额外消费能力。

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