大学体验英语视听说教程UNIT3It’sarecessionwhenyourneighborloseshisjob;it’sadepressionwhenyouloseyours.BackgroundInformationTriggeredbyaliquidityshortfallintheUnitedStatesbankingsystem,thefinancialcrisisof2007hasresultedinthecollapseoflargefinancialinstitutions,the“bailout”ofbanksbynationalgovernmentsanddownturnsinstockmarketsaroundtheworld.Thewholeworldwas,todifferentdegrees,plungedintoaneconomicrecession.Inthisunitstudentswilllearnaboutthesigns,indicatorsandeffectsofeconomicrecessionandsuggestionsfromexpertsonhowtosurvivetherecessioninone’scareerthroughreading,listeningandviewing.Variousactivitieswillinspirestudentstotalkabouttherepresentationofthelate-2000sworldwideeconomicrecessionanditsimpactonvariousaspectsofpeople’slivesbyusingthewordsandexpressionsinthisunit.Andfinally,theyareencouragedtoconductapollon“solutionstojobcreation”withtheirpeers.BackgroundInformationTheSubprimeMortgageCrisisUpuntil2006thehousingmarketintheUnitedStateswasflourishingduetothefactthatitwassoeasytogetahomeloan.Individualsweretakingonsubprimemortgages,withtheexpectationsthatthepriceoftheirhomewouldcontinuetoriseandthattheywouldbeabletorefinancetheirhome(Torefinancemeanstochangethetermsofaloan.Mostpeoplerefinancetogetalowerinterestrate.)beforethehigherinterestratesweretogointoeffect.However,housingpriceshadreachedtheirpeakandthehousingbubbleburst.Homevalueswerenowonadecline.Atthispointmanywhohadtakenonthesesubprimemortgagesandtheirinterestrateswerebeginningto“reset”tothehigherrates,makingtheirmonthlymortgagepaymentsmuchhigherthanbefore.Peoplewhocouldn’taffordtheirmortgagepaymentsthenbegantoselltheirhomes.Butsincethepriceofhomeshadseverelydecreased,theydidnothaveenoughmoneyaftersellingtocovertheamountofthemortgage.Ifhomeownerscannotselltheirhomes(whichismorelikelytohappenwhenmanyhomesarebeingputupforsale),theyareultimatelyleftwithoneoption,andthatwastodefault.BackgroundInformationBackgroundInformationLessonOneLead-inTask1DescribingthePictureTask2ReflectingontheReading3.Accordingtotheauthor,weret