Oxford Economics estimates that a 15% drop in house prices in America over a year would cancel out two-thirds of the housing equity they have accumulated since the start of the pandemic.

牛津经济研究院估计，美国房价在一年内下跌 15% 将抵消自大流行开始以来积累的三分之二的住房资产。

The other thing is that we've seen, obviously, a huge growth in the value of property, and that means that people have built up quite a lot of housing equity and that gives you a cushion.

另一件事是，我们显然看到了房地产价值的巨大增长，这意味着人们已经建立了相当多的住房净值， 这给了你一个缓冲。