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Unit3 PropertyBoom 高级综合商务英语答案

Unit 3 Property Boom

Text A

I. Reading Comprehension

1. Determine whether the following statements are true or false. Write a T for true, an F for false, and an NG for not given.

1) F 2) T 3) F 4) F 5) NG 6) F 7) T 8) F 9) T 10) T

2. Essay Questions

1) We can see from the index that for the first 100 years or so, prices go up and down but gain very little overall. However, starting in the late 1990s, house prices began to soar unprecedentedly. Then after hitting the summit in the middle of the first decade of the new century, it started to plummet.

2) Because property loans are relatively light on capital and backed by real assets. In retail banking mortgages are thought to anchor long-term relationships with customers. And lending on commercial property is big enough for sales teams to meet their targets.

3) The first lever is the institutional framework controlled by the government—things like tax breaks, housing subsidies, land supply and the laws on recourse in the event of default. The second lever is the system of mortgage financing. And the third lever is the idea of macroprudential regulation which is already common in some parts of the world.

4) It deprives first-time buyers and the self-employed of their right to raise a bank loan. As a consequence, they are encouraged to seek more expensive and unsecured method of financing. Some lenders also fret that if underwriting becomes too prescriptive, borrowers are relieved of taking responsibility for their own actions.

5) Thanks to transaction taxes, property bubbles are helpful to exchequers and the job markets when the property boom is under way.

II.Blank-filling: Complete the following sentences with the words given in the box. Change the form when necessary.

1) replicate 2) fiscal 3) discretionary 4) unsustainable 5) volatile

6) transferable 7) mandate 8) default 9) liquidity 10) dampened

III. Paraphrasing

1. Rewriting: Rewrite the underlined part of each sentence in your own words. that easy credit played a part in driving up prices and making the bust worse.

2) Imposing rigid limits on how much people can borrow either disenfranchises some—first-time buyers and the self-employed tend to suffer most—

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