Homes are the most local of investments, rooted to a particular place like a tree, and thus thriving or withering in response to local economic conditions. The whole world flashes by on our television screens, but the market for our homes, which is comprised almost entirely of local amateurs, remains grounded right there in our own backyard.
住房是最具地域性的投资，如同一棵树一样扎根在一个特定的地方，随着当地经济状况的变化而兴衰。整个世界都在我们的电视屏幕上闪烁，但是，我们的住房市场却仍然被牢牢地限制在我们的后院里，因为市场几乎全部由当地业余投资者组成。