美国房地产泡沫的破灭给脆弱的美国经济带来很大风险，因为它导致信贷紧缩等一系列问题。请看外电报道：

An increasingly fragile U.S. economy is facing growing risks from the meltdown in the property market, which threatens to spill over into other sectors as credit markets freeze, analysts say.

Although financial markets have begun to stabilize after several turbulent weeks, experts say the subprime mortgage loan crisis will take time to resolve, and could drag down other sectors of the economy.

报道中的“subprime mortgage loan”就是次级抵押贷款，也就是最近大家热议的次级债，是指一些贷款机构向信用程度较差和收入不高的借款人提供的贷款。

“Subprime”就是质量稍差一点的，例如“a subprime grade of steel”就是“次一等级的钢铁”。

现在人们买房通常向银行借“mortgage loans”，付首期，然后把房契抵押给银行贷款。这样买房叫“buy on installment”(分期付款)。