首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
考研
In 1929 John D. Rockefeller decided it was time to sell shares when even a shoe-shine boy offered him a share tip. During the pa
In 1929 John D. Rockefeller decided it was time to sell shares when even a shoe-shine boy offered him a share tip. During the pa
admin
2020-08-21
25
问题
In 1929 John D. Rockefeller decided it was time to sell shares when even a shoe-shine boy offered him a share tip. During the past week The Economist’ s economics editor has been advised by a taxi driver, a plumber and a hairdresser that "you can’t go wrong" investing in housing—the more you own the better. Is this a sign that it is time to get out? At the very least, as house prices around the world climb to ever loftier heights, and more and more people jump on to the buy-to-let ladder, it is time to expose some of the
fallacies
regularly trotted out by so many self-appointed housing experts.
One common error is that house prices must continue to rise because of a limited supply of land. For instance, it is argued that " house prices will always rise in London because lots of people want to live here". But this confuses the level of prices with their rate of change. Home prices are bound to be higher in big cities because of land scarcity, but this does not guarantee that urban house prices will keep rising indefinitely—just look at Tokyo’ s huge price-drops since 1990. And, though it is true that a fixed supply of homes may push up house prices if the population is rising, this would imply a steady rise in prices, not the 20% annual jumps of recent years.
A second flawed argument is that low interest rates make buying a home cheaper, and so push up demand and prices. Lower interest rates may have allowed some people, who otherwise could not have afforded a mortgage, to buy a home. But many borrowers who think mortgages are cheaper are suffering from money illusion.
Interest rates are not very low in real, inflation-adjusted terms. Initial interest payments may seem low in relation to income, but because inflation is also low it will not erode the real burden of debt as swiftly as it once did. So in later years mortgage payments will be much larger in real terms. To argue that low nominal interest rates make buying a home cheaper is like arguing that a car loan paid off over four years is cheaper than one repaid over two years.
Fallacy number three is a favourite claim of Alan Greenspan, chairman of America’s Federal Reserve. This is that price bubbles are less likely in housing than in the stock market because higher transaction costs discourage speculation. In fact, several studies have shown that both in theory and in practice bubbles are more likely in housing than in shares. A study by the IMF finds that a sharp rise in house prices is far more likely to be followed by a bust than is a share-price boom.
The author of the text makes a comparison in______.
选项
A、Paragraph 4
B、concluding paragraph
C、Paragraph 2
D、opening paragraph
答案
A
解析
这是一道细节结构题,测试考生对原文中的语言结构和表达手法的识别与理解能力。本题的答案信息来源在第四段的尾句,该句使用的是“be like…”(像……,如同……)这一比较结构。该句的大意是:“认为低利率使购房更便宜就如同认为四年偿还的汽车货款低于两年偿还的车贷。”根据本句的主要结构和内容可以推断本题的正确选项是A“Paragraph 4”(第四段)。考生在阅读时要重视语言结构及其功能和作用。
转载请注明原文地址:https://kaotiyun.com/show/fT1Z777K
0
考研英语一
相关试题推荐
Dopeoplegethappierormorefoul-temperedastheyage?Stereotypesofirritableneighbors【C1】______,scientistshavebeentry
Dopeoplegethappierormorefoul-temperedastheyage?Stereotypesofirritableneighbors【C1】______,scientistshavebeentry
Dopeoplegethappierormorefoul-temperedastheyage?Stereotypesofirritableneighbors【C1】______,scientistshavebeentry
WritealettertoMr.Chentocomplainthat40whitecottonsweatersweresoiledduetotheimproperpackingbythesuppliers,a
Mostworthwhilecareersrequiresomekindofspecializedtraining.Ideally,therefore,thechoiceofan【C1】______shouldbemade
Mostworthwhilecareersrequiresomekindofspecializedtraining.Ideally,therefore,thechoiceofan【C1】______shouldbemade
ShoppinghabitsintheUnitedStateshavechangedgreatlyinthelastquarterofthe20thcentury.【C1】______inthe1900smostAm
Greatereffortsshouldbemadetoincreaseagriculturalproductioniffoodshortageistobeavoided.
Thetime-enduringmetaphorofthewaroncancer,asoverusedasitmaybe,isasevocativeasevertodescribeoureffortstobe
随机试题
劳动法规定非全日制用工劳动报酬结算支付周期最长不得超过()。
下述可引起间接胆红素升高的是
下述关于组织构成因素不正确的说法是( )。
一场足球比赛,一般运动员跑动距离都在_______米以上。
阅读下列材料,根据提供条件,设计25分钟的运动技能教学环节,要求包括教学目标、教学方法及其组织形式。某校小学六年级(8)班,女生20人,教学内容为跳箱分腿腾跃(下图),新授课。场地器材:教学场地1块,跳箱2个,踏板2块,垫子6块,运动技
已知一个时钟,每小时慢2分钟,下午14时整将时钟调至标准时间,当时钟走到18时50分时,标准时间为:
某公司在甲、乙、丙、丁四个地方各有一个仓库,四个地方大致都在一条直线上,分别相距6千米、10千米、18千米,甲仓库有货物4吨,乙仓库有货物6吨,丙仓库有货物9吨,丁仓库有货物3吨。如果把所有的货物集中到一个仓库,每吨货物每千米运费100元,请问把货物放在哪
可行性分析报告是可行性分析的最后成果。下列不属于可行性分析报告主体内容的是
Whethertotellthetruthtoadyingpersonhaslongbeenacontroversialproblem.Describethetwooppositeopinions,andgive
Backintheday,agoodreportcardearnedyouaparentalpatontheback,butnowitcouldbemoneyinyourpocket.Experiments
最新回复
(
0
)