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房地产开发订单在一年前更是提升了五分之一。Homebuilding orders are up by a fifth on a year ago.

房价下跌是中国狂热住宅建设的必然结果。Falling prices would be a natural outcome of China's frenetic pace of homebuilding.

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企业支出可能会进一步下降在未来几个月内，并可能保持房地产合同到2009年，伯南克说。Business spending may decline further in coming months, and homebuilding may keep contracting into 2009, Bernanke said.

出口和房屋建造方面的降幅不像最初预计的那麽严重,这亦帮助缩小GDP的降幅.Drops in exports and homebuilding that were not as steep as previously estimated also helped minimize the decline in GDP.

例如，大多数小型建筑承包商继续境况不佳，因为住宅建筑行业没什么进展。For example, most small construction contractors continue to suffer because of little activity in the homebuilding sector.

但在止赎潮消退及待售成屋减少前,房屋建筑复苏势头将受抑.However, until the foreclosure wave ebbs and the overhang of unsold existing homes abates, the recovery in homebuilding will be subdued.

在房市泡沫破裂正式开始以来的两年中，住房建筑业的衰退使GDP年增长率每年大约减少一个百分点。In the two years since the housing bust started in earnest, the contraction in homebuilding has taken around one percentage point a year of GDP growth.

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就像2006年美国经济因零售业的衰落而下滑一样，英国现在正经历着房地产业的剧烈收缩。Just as America's growth has been dragged down since 2006 by falling residential investment, so Britain is now suffering a sharp contraction in homebuilding.

另一个担忧的是如果房地产业大幅下跌，中国可能会难以迅速地转移劳动力和资本，从而避免整体经济陡然减速。Another fear is that if homebuilding falls sharply, China may struggle to shift labour and capital quickly enough to avoid an abrupt slowdown in the overall economy.

但美国经济的阻力犹存,因有报告显示该国11月建筑支出降至逾六年低位,受房屋建造活动下滑打压.But headwinds for the U.S. economy remain, as a separate report showed construction spending fell in November to a more than six-year low, depressed by a decline in homebuilding.

而现在只有能付得起一大笔首付并且收入丰厚的优质借款者才能得到抵押贷款，我们已经看到住房建造业及住房销售业乃至整体经济的紧缩。Now that only stellar borrowers with large down payments and hefty incomes get mortgages, we have seen the homebuilding and home-buying industry, and with it the economy, retrench.