The downward price trend in the US market, for example, does not seem to reflect underlying changes in long-run economic confidence. The survey that Karl Case and I conducted in May and June of this year, under the auspices of the Yale School of Management, shows sharp declines in short-term expectations for home prices in the US, but relatively little change in long-term expectations.
例如，美国市场的价格回落似乎并不是长期经济信心发生变化的标志。今年五、六月份卡尔·凯斯（Karl Case）和我在耶鲁管理学院的赞助下共同进行的民意调查表明：人们预期住宅价格会在短期内大幅下跌，但对长期房价的预测却变化不大。绝大多数人依然相信住宅是长期投资的最佳方式。