A quick review of the real estate market in the world leads to the conclusion that China’s real estate market hasn't experience major crisis except for the localized crisis in Hainan Province as we mentioned before. This is because commercialization of property is a relatively recent phenomenon in China. However, it's alarming to note that the real estate crisis in the United States triggered a global financial tsunami in 2008, just a decade ago.
我们纵观全世界的房地产市场，中国的房地产市场由于起步较晚，除了我们之前说的海南之外，尚未出现过大的房地产危机，但是就在十年前的2008年全世界金融海啸的起源就是美国的房地产危机。