2007年VOA标准英语-US Housing Market Continues To Slide

By Mil Arcega
Washington
28 March 2007
 
watch Housing Market

Stocks fell after the release of a Standard & Poor's report on Tuesday showing the worst decline in prices for single family homes in the US in more than 13 years.  The drop in housing values worries investors¹ who fear falling prices could seep² into the broader US economy and crimp consumer spending.  VOA's Mil Arcega reports.

 
U.S. stock markets tumbled Tuesday over worries that the drop in housing prices could hurt consumer confidence.  Consumer spending accounts for two-thirds of all U.S. economic activity, and with house prices showing the worst depreciation³ in 13 years, many homeowners are feeling insecure about the future.

One couple Chris and Amy Wood says it hasn’t gone well. "We call it the American nightmare, that's what we call it."

 
Chris Amy Wood
Instead of earning equity⁴ on their investment, Chris and Amy Wood say they now owe more than their home is worth. "My negative equity is between $15,000 - $20,000.  Negative, not positive.  I can't do anything with this house unless I can spend between 15 and 20 grand, cash, to sell it."

Mark and Lisa Tingley are in similar straits.  They purchased their dream home six years ago but rising interest rates have raised their monthly payments by more than 20 percent. "We've lived off of peanut butter and jelly just to try and make the mortgage payment.  Luckily we have managed to hang on as a lot of our neighbors have not been able to do that."

 
Binya Applebaum
Of the 406 families who live in this North Carolina community, 77 have already lost their homes.  Reporter Binya Applebaum with the Charlotte Observer says many homeowners were talked into taking out subprime loans, offered by some lenders to people with poor credit or very little cash. "These were homes you could buy for one dollar down. You could take a dollar bill out of your pocket and become a home owner."

The Conference Board, which rates the consumer confidence index, says the recent turmoil⁵ in financial markets, coupled with higher gasoline prices may be contributing to consumer's heightened sense of uncertainty⁶.  The one bright note is the job market, which has grown steadily⁷ despite slower growth in February.

1 investors   

n.投资者，出资者( investor的名词复数 )

参考例句：

• a con man who bilked investors out of millions of dollars 诈取投资者几百万元的骗子
• a cash bonanza for investors 投资者的赚钱机会

2 seep   

v.渗出，渗漏；n.渗漏，小泉，水（油）坑

参考例句：

• My anger began to seep away.我的怒火开始消下去了。
• If meteoric water does not evaporate or run overland,it may seep directly into the ground.如果雨水不从陆地蒸发和流走的话，就可能直接渗入地下。

3 depreciation   

n.价值低落，贬值，蔑视，贬低

参考例句：

• She can't bear the depreciation of the enemy.她受不了敌人的蹂躏。
• They wrote off 500 for depreciation of machinery.他们注销了500镑作为机器折旧费。

4 equity   

n.公正，公平，（无固定利息的）股票

参考例句：

• They shared the work of the house with equity.他们公平地分担家务。
• To capture his equity,Murphy must either sell or refinance.要获得资产净值，墨菲必须出售或者重新融资。

5 turmoil   

n.骚乱，混乱，动乱

参考例句：

• His mind was in such a turmoil that he couldn't get to sleep.内心的纷扰使他无法入睡。
• The robbery put the village in a turmoil.抢劫使全村陷入混乱。

6 uncertainty   

n.易变，靠不住，不确知，不确定的事物

参考例句：

• Her comments will add to the uncertainty of the situation.她的批评将会使局势更加不稳定。
• After six weeks of uncertainty,the strain was beginning to take its toll.6个星期的忐忑不安后，压力开始产生影响了。

7 steadily   

adv.稳定地；不变地；持续地

参考例句：

• The scope of man's use of natural resources will steadily grow.人类利用自然资源的广度将日益扩大。
• Our educational reform was steadily led onto the correct path.我们的教学改革慢慢上轨道了。