{"id":11888,"date":"2008-02-13T02:03:00","date_gmt":"2008-02-13T02:03:00","guid":{"rendered":"https:\/\/www.sisinternational.com\/new-york-and-florida-real-estate-competitors\/"},"modified":"2026-01-26T18:35:11","modified_gmt":"2026-01-26T23:35:11","slug":"%d9%86%d9%8a%d9%88%d9%8a%d9%88%d8%b1%d9%83-%d9%88%d9%81%d9%84%d9%88%d8%b1%d9%8a%d8%af%d8%a7-%d8%a7%d9%84%d9%85%d9%86%d8%a7%d9%81%d8%b3%d9%8a%d9%86-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d9%8a","status":"publish","type":"post","link":"https:\/\/www.sisinternational.com\/ar\/%d9%86%d9%8a%d9%88%d9%8a%d9%88%d8%b1%d9%83-%d9%88%d9%81%d9%84%d9%88%d8%b1%d9%8a%d8%af%d8%a7-%d8%a7%d9%84%d9%85%d9%86%d8%a7%d9%81%d8%b3%d9%8a%d9%86-%d8%a7%d9%84%d8%b9%d9%82%d8%a7%d8%b1%d9%8a%d9%8a\/","title":{"rendered":"\u0646\u064a\u0648\u064a\u0648\u0631\u0643 \u0648\u0641\u0644\u0648\u0631\u064a\u062f\u0627 \u0627\u0644\u0645\u0646\u0627\u0641\u0633\u064a\u0646 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u064a\u0646"},"content":{"rendered":"
\"SIS<\/figure>\n\n\n\n
\n\n\n

\u0645\u0644\u062e\u0635<\/strong><\/p>\n

\u064a\u062a\u0631\u0643\u0632 \u0627\u0644\u0645\u0646\u0627\u0641\u0633\u0648\u0646 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0648\u0646 \u0641\u064a \u0633\u0648\u0642 \u0627\u0644\u0648\u0644\u0627\u064a\u0627\u062a \u0627\u0644\u0645\u062a\u062d\u062f\u0629 \u0641\u064a \u062b\u0644\u0627\u062b \u0645\u0646\u0627\u0637\u0642: \u0627\u0644\u0633\u0627\u062d\u0644 \u0627\u0644\u0634\u0631\u0642\u064a \u0648\u0627\u0644\u063a\u0631\u0628 \u0627\u0644\u0623\u0648\u0633\u0637 \u0648\u0627\u0644\u0633\u0627\u062d\u0644 \u0627\u0644\u063a\u0631\u0628\u064a. \u0648\u062a\u0634\u0645\u0644 \u0645\u0646\u0627\u0637\u0642 \u0627\u0644\u062a\u0631\u0643\u064a\u0632 \u0627\u0644\u062e\u0627\u0635\u0629 \u0643\u0627\u0644\u064a\u0641\u0648\u0631\u0646\u064a\u0627 \u0648\u0645\u064a\u0633\u0648\u0631\u064a \u0648\u0646\u0628\u0631\u0627\u0633\u0643\u0627 \u0648\u0628\u0646\u0633\u0644\u0641\u0627\u0646\u064a\u0627.<\/p>\n

\u0628\u0639\u0636 \u0627\u0644\u0644\u0627\u0639\u0628\u064a\u0646 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u064a\u0646 \u0641\u064a \u0627\u0644\u0635\u0646\u0627\u0639\u0629 \u0645\u0646 \u0641\u0644\u0648\u0631\u064a\u062f\u0627 \u0648\u0646\u064a\u0648\u064a\u0648\u0631\u0643 \u0647\u0645 \u0643\u0645\u0627 \u064a\u0644\u064a:<\/p>\n

\u0645\u0648\u0642\u0639 \u0627\u0644\u0634\u0631\u0643\u0629<\/strong><\/p>\n

\u0623.
\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629 \u0627\u0644\u0623\u0643\u062b\u0631 \u0645\u0631\u0648\u0646\u0629<\/em><\/strong>
\u0648\u0641\u064a \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u062a\u064a \u0645\u0646 \u0627\u0644\u0645\u062a\u0648\u0642\u0639 \u0623\u0646 \u062a\u0646\u062a\u0639\u0634 \u0628\u0634\u0643\u0644 \u0623\u0628\u0637\u0623\u060c \u0645\u062b\u0644 \u0628\u0648\u0633\u0637\u0646 \u0648\u062f\u0646\u0641\u0631\u060c \u0623\u062f\u0649 \u0627\u0646\u062e\u0641\u0627\u0636 \u062b\u0642\u0629 \u0627\u0644\u0645\u0634\u062a\u0631\u064a\u0646 \u0625\u0644\u0649 \u062c\u0627\u0646\u0628 \u0648\u062c\u0648\u062f \u0641\u0627\u0626\u0636 \u0641\u064a \u0645\u062e\u0632\u0648\u0646 \u0627\u0644\u0645\u0633\u0627\u0643\u0646 \u0625\u0644\u0649 \u0625\u0637\u0627\u0644\u0629 \u0641\u062a\u0631\u0629 \u0627\u0644\u0631\u0643\u0648\u062f. \u0648\u064a\u0634\u064a\u0631 \u0643\u0628\u064a\u0631 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u064a\u0646 \u0641\u064a NAR\u060c \u0644\u0648\u0631\u0627\u0646\u0633 \u064a\u0648\u0646\u060c \u0625\u0644\u0649 \u0623\u0646 \u0627\u0644\u0645\u0634\u062a\u0631\u064a\u0646 \u064a\u0628\u062d\u062b\u0648\u0646 \u0639\u0646 \u0639\u0644\u0627\u0645\u0627\u062a \u0648\u0627\u0636\u062d\u0629 \u0639\u0644\u0649 \u0642\u0627\u0639 \u0627\u0644\u0633\u0648\u0642 \u0648\u0647\u0645 \u0631\u0627\u0636\u0648\u0646 \u0628\u0627\u0644\u0627\u0646\u062a\u0638\u0627\u0631 \u0639\u0644\u0649 \u0627\u0644\u0647\u0627\u0645\u0634 \u062d\u062a\u0649 \u0630\u0644\u0643 \u0627\u0644\u062d\u064a\u0646.<\/p>\n

It’s easy to see why. Most of the country’s real estate markets<\/a> are feeling the effects of overproduction. A strong market hovers near a 1.5% vacancy rate, but the national average currently stands at 2.8% and in cities such as Miami, Atlanta and Denver, figures hang around 3.5%. In addition, every nugget of good news (a May Commerce Department report said that new-home sales are at a 14-year high) comes with bad news (median price growth is at a 10-year low).<\/p>\n

\u062e\u0644\u0641 \u0627\u0644\u0627\u0631\u0642\u0627\u0645 <\/em><\/strong>
Market corrections follow three basic recovery patterns. A V-shaped recovery where a market experiences a sharp, fast decline but comes out strong once it hits bottom; a U-shaped recovery, where prices decline gradually and recover slowly; and an L-shaped curve, a hard, fast fall with paltry price bounceback following the market<\/a> trough.<\/p>\n

The differences between a V-shaped market and a U-shaped one has to do with barriers to growth. High vacancy rates and high investor share can hurt a market<\/a>, but if the local economy remains strong and housing stock affordable it’s only a matter of how long it takes to absorb the excess inventory.<\/p>\n

\u062a\u0627\u0645\u0628\u0627 \u0647\u064a \u0627\u0644\u0645\u0631\u0634\u062d \u0627\u0644\u0645\u062b\u0627\u0644\u064a \u0644\u0644\u062a\u0639\u0627\u0641\u064a \u0639\u0644\u0649 \u0634\u0643\u0644 \u062d\u0631\u0641 V\u060c \u0648\u0641\u0642\u064b\u0627 \u0644\u0628\u062d\u062b \u0623\u062c\u0631\u0627\u0647 \u0645\u0648\u0642\u0639 Moody's Economy.com\u060c \u0648\u0647\u064a \u0634\u0631\u0643\u0629 \u0644\u0644\u062a\u062d\u0644\u064a\u0644 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a \u0648\u0627\u0644\u062a\u0646\u0628\u0624 \u0648\u0645\u062e\u0627\u0637\u0631 \u0627\u0644\u0627\u0626\u062a\u0645\u0627\u0646. \u0648\u0644\u0627 \u064a\u0632\u0627\u0644 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0645\u062d\u0644\u064a \u0642\u0648\u064a\u0627\u060c \u0643\u0645\u0627 \u0623\u0646 \u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0645\u0646\u062e\u0641\u0636 \u0627\u0644\u0645\u062e\u0627\u0637\u0631 \u0646\u0633\u0628\u064a\u0627. \u0645\u0634\u0643\u0644\u0629 \u062a\u0627\u0645\u0628\u0627\u061f \u062d\u0635\u0629 \u0639\u0627\u0644\u064a\u0629 \u0645\u0646 \u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u062a\u0624\u062f\u064a \u0625\u0644\u0649 \u0627\u0631\u062a\u0641\u0627\u0639 \u0645\u0639\u062f\u0644\u0627\u062a \u0627\u0644\u0634\u0648\u0627\u063a\u0631. \u0639\u0646\u062f\u0645\u0627 \u062a\u062f\u0647\u0648\u0631\u062a \u0627\u0644\u0633\u0648\u0642 \u0641\u064a \u0639\u0627\u0645 2005\u060c \u0643\u0627\u0646 \u0623\u0643\u062b\u0631 \u0645\u0646 25% \u0645\u0646 \u0645\u0646\u0627\u0632\u0644 \u062a\u0627\u0645\u0628\u0627 \u0645\u0645\u0644\u0648\u0643\u0629 \u0643\u0639\u0642\u0627\u0631\u0627\u062a \u0627\u0633\u062a\u062b\u0645\u0627\u0631\u064a\u0629. \u0641\u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u0648\u0646 \u0623\u0633\u0631\u0639 \u0641\u064a \u0627\u0644\u0641\u0631\u0627\u0631 \u062e\u0644\u0627\u0644 \u0641\u062a\u0631\u0629 \u0627\u0644\u0631\u0643\u0648\u062f\u060c \u0645\u0645\u0627 \u064a\u062e\u0644\u0642 \u0648\u0641\u0631\u0629 \u0641\u064a \u0645\u062e\u0632\u0648\u0646 \u0627\u0644\u0645\u0633\u0627\u0643\u0646 \u0627\u0644\u0645\u062a\u0627\u062d\u0629. \u0648\u0641\u064a \u062d\u0627\u0644\u0629 \u062a\u0627\u0645\u0628\u0627\u060c \u062a\u0628\u0644\u063a \u0645\u0639\u062f\u0644\u0627\u062a \u0627\u0644\u0634\u0648\u0627\u063a\u0631 \u0627\u0644\u0622\u0646 3.5%.<\/p>\n

\u0648\u0627\u0633\u062a\u0646\u0627\u062f\u0627\u064b \u0625\u0644\u0649 \u062a\u0648\u0642\u0639\u0627\u062a \u0645\u0648\u062f\u064a\u0632 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f\u064a\u0629\u060c \u0645\u0646 \u0627\u0644\u0645\u0641\u062a\u0631\u0636 \u0623\u0646 \u062a\u062d\u0631\u0642 \u062a\u0627\u0645\u0628\u0627 \u0645\u062e\u0632\u0648\u0646\u0647\u0627 \u0627\u0644\u0632\u0627\u0626\u062f \u0648\u062a\u0635\u0644 \u0625\u0644\u0649 \u0623\u062f\u0646\u0649 \u0645\u0633\u062a\u0648\u0649 \u0644\u0644\u0633\u0639\u0631 \u0641\u064a \u0627\u0644\u0631\u0628\u0639 \u0627\u0644\u0623\u0648\u0644 \u0645\u0646 \u0639\u0627\u0645 2008\u060c \u062d\u064a\u062b \u0645\u0646 \u0627\u0644\u0645\u062a\u0648\u0642\u0639 \u0623\u0646 \u062a\u0631\u062a\u0641\u0639 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0628\u0645\u0642\u062f\u0627\u0631 10.6% \u0641\u064a \u0627\u0644\u0639\u0627\u0645 \u0627\u0644\u062a\u0627\u0644\u064a.
\u0648\u062a\u0623\u062e\u0630 \u0647\u0630\u0647 \u0627\u0644\u062a\u0648\u0642\u0639\u0627\u062a \u0641\u064a \u0627\u0644\u0627\u0639\u062a\u0628\u0627\u0631 \u0627\u0644\u0642\u062f\u0631\u0629 \u0639\u0644\u0649 \u062a\u062d\u0645\u0644 \u062a\u0643\u0627\u0644\u064a\u0641 \u0627\u0644\u0633\u0643\u0646\u060c \u0648\u0645\u0639\u062f\u0644\u0627\u062a \u0627\u0644\u0634\u0648\u0627\u063a\u0631\u060c \u0648\u0642\u0648\u0629 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0645\u062d\u0644\u064a \u0648\u0633\u0648\u0642 \u0627\u0644\u0639\u0645\u0644\u060c \u0648\u062d\u0635\u0629 \u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0641\u064a \u0639\u0627\u0645 2005\u060c \u0648\u062d\u0635\u0629 \u0627\u0644\u0642\u0631\u0648\u0636 \u0627\u0644\u0639\u0642\u0627\u0631\u064a\u0629 \u0639\u0627\u0644\u064a\u0629 \u0627\u0644\u0645\u062e\u0627\u0637\u0631. \u062a\u0623\u062a\u064a \u0627\u0644\u0628\u064a\u0627\u0646\u0627\u062a \u0645\u0646 \u0648\u0643\u0627\u0644\u0629 \u0645\u0648\u062f\u064a\u0632\u060c \u0648\u0645\u0643\u062a\u0628 \u0625\u062d\u0635\u0627\u0621\u0627\u062a \u0627\u0644\u0639\u0645\u0644\u060c \u0648\u0642\u0627\u0646\u0648\u0646 \u0627\u0644\u0625\u0641\u0635\u0627\u062d \u0639\u0646 \u0627\u0644\u0631\u0647\u0646 \u0627\u0644\u0639\u0642\u0627\u0631\u064a \u0627\u0644\u062a\u0627\u0628\u0639 \u0644\u0645\u062c\u0644\u0633 \u0627\u0644\u0627\u062d\u062a\u064a\u0627\u0637\u064a \u0627\u0644\u0641\u064a\u062f\u0631\u0627\u0644\u064a.<\/p>\n

\u0625\u0646 \u0627\u0644\u062a\u0646\u0628\u0624 \u0628\u0642\u0627\u0639 \u0623\u064a \u0633\u0648\u0642 \u0623\u0635\u0648\u0644\u060c \u0648\u062e\u0627\u0635\u0629 \u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a\u060c \u0623\u0645\u0631 \u0635\u0639\u0628. \u0648\u0641\u064a \u062d\u064a\u0646 \u0623\u0646 \u0647\u0630\u0647 \u0627\u0644\u062a\u0648\u0642\u0639\u0627\u062a \u062a\u0633\u062a\u0646\u062f \u0625\u0644\u0649 \u0628\u064a\u0627\u0646\u0627\u062a \u0633\u0644\u064a\u0645\u0629 \u0648\u0646\u0645\u0627\u0630\u062c \u0645\u062a\u0642\u062f\u0645\u0629 \u0645\u0646 \u0642\u0628\u0644 \u0648\u0643\u0627\u0644\u0629 \u0645\u0648\u062f\u064a\u0632\u060c \u0625\u0644\u0627 \u0623\u0646\u0647 \u0644\u0627 \u064a\u0633\u062a\u0637\u064a\u0639 \u0623\u062d\u062f \u0627\u0644\u062a\u0646\u0628\u0624 \u0628\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0639\u0642\u0648\u062f \u0627\u0644\u0622\u062c\u0644\u0629 \u0639\u0644\u0649 \u0648\u062c\u0647 \u0627\u0644\u064a\u0642\u064a\u0646 \u0627\u0644\u0645\u0637\u0644\u0642.<\/p>\n

\u0627\u0631\u062a\u062f\u0627\u062f\u0627\u062a \u0623\u062e\u0631\u0649 <\/em><\/strong>
\u0645\u062b\u0644 \u062a\u0627\u0645\u0628\u0627\u060c \u062a\u0639\u0627\u0646\u064a \u0641\u064a\u0646\u064a\u0643\u0633 \u0628\u0627\u0644\u0645\u062b\u0644 \u0645\u0646 \u0627\u0631\u062a\u0641\u0627\u0639 \u062d\u0635\u0629 \u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 (26.1%) \u0648\u0644\u062f\u064a\u0647\u0627 \u0645\u0639\u062f\u0644 \u0634\u063a\u0648\u0631 \u064a\u0632\u064a\u062f \u0639\u0646 3%. \u062a\u0634\u064a\u0631 \u0645\u0639\u062f\u0644\u0627\u062a \u0627\u0644\u0642\u062f\u0631\u0629 \u0639\u0644\u0649 \u062a\u062d\u0645\u0644 \u0627\u0644\u062a\u0643\u0627\u0644\u064a\u0641 \u0627\u0644\u062c\u064a\u062f\u0629 \u0648\u0633\u0648\u0642 \u0627\u0644\u0639\u0645\u0644 \u0627\u0644\u0645\u062a\u0632\u0627\u064a\u062f \u0625\u0644\u0649 \u0623\u0646\u0647 \u0628\u0645\u062c\u0631\u062f \u0648\u0635\u0648\u0644 \u0641\u064a\u0646\u064a\u0643\u0633 \u0625\u0644\u0649 \u0627\u0644\u0642\u0627\u0639\u060c \u0633\u064a\u0643\u0648\u0646 \u0646\u0645\u0648 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0642\u0648\u064a\u064b\u0627. \u0623\u062f\u0649 \u0646\u0645\u0648\u0630\u062c \u062a\u0648\u0642\u0639\u0627\u062a \u0645\u0648\u062f\u064a\u0632 \u0625\u0644\u0649 \u0648\u0635\u0648\u0644 \u0623\u0633\u0639\u0627\u0631 \u0641\u064a\u0646\u064a\u0643\u0633 \u0625\u0644\u0649 \u0623\u062f\u0646\u0649 \u0645\u0633\u062a\u0648\u064a\u0627\u062a\u0647\u0627 \u0641\u064a \u0627\u0644\u0631\u0628\u0639 \u0627\u0644\u0623\u062e\u064a\u0631 \u0645\u0646 \u0639\u0627\u0645 2008 \u062b\u0645 \u0646\u0645\u0648\u0647\u0627 \u0628\u0645\u0642\u062f\u0627\u0631 7.7% \u0641\u064a \u0627\u0644\u0639\u0627\u0645 \u0627\u0644\u062a\u0627\u0644\u064a.<\/p>\n

\u0648\u0645\u0646 \u0627\u0644\u0645\u062a\u0648\u0642\u0639 \u0623\u0646 \u062a\u0643\u0648\u0646 \u0645\u0639\u062f\u0644\u0627\u062a \u0627\u0644\u062a\u0639\u0627\u0641\u064a \u0623\u0628\u0637\u0623 \u0641\u064a \u0623\u0633\u0648\u0627\u0642 \u0645\u062b\u0644 \u0645\u064a\u0646\u064a\u0627\u0628\u0648\u0644\u064a\u0633 \u0648\u0628\u0648\u0633\u0637\u0646\u060c \u062d\u064a\u062b \u064a\u0624\u062f\u064a \u062a\u0628\u0627\u0637\u0624 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f \u0627\u0644\u0645\u062d\u0644\u064a \u0648\u0628\u0637\u0621 \u0646\u0645\u0648 \u0627\u0644\u0648\u0638\u0627\u0626\u0641 \u0648\u0623\u0631\u0642\u0627\u0645 \u0627\u0644\u0647\u062c\u0631\u0629 \u0627\u0644\u0633\u0644\u0628\u064a\u0629 \u0625\u0644\u0649 \u0625\u0639\u0627\u0642\u0629 \u0627\u0644\u062a\u0648\u0642\u0639\u0627\u062a \u0639\u0644\u0649 \u0627\u0644\u0645\u062f\u0649 \u0627\u0644\u0637\u0648\u064a\u0644. \u062c\u0646\u0628\u0627 \u0625\u0644\u0649 \u062c\u0646\u0628 \u0645\u0639 \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0623\u062e\u0631\u0649 \u0639\u0644\u0649 \u0634\u0643\u0644 \u062d\u0631\u0641 U \u0645\u062b\u0644 \u0633\u0643\u0631\u0627\u0645\u0646\u062a\u0648\u060c \u0627\u0644\u062a\u064a \u0644\u062f\u064a\u0647\u0627 \u062d\u0635\u0629 \u0642\u0631\u0648\u0636 \u0627\u0644\u0631\u0647\u0646 \u0627\u0644\u0639\u0642\u0627\u0631\u064a \u0627\u0644\u0645\u0643\u0648\u0646\u0629 \u0645\u0646 \u0631\u0642\u0645\u064a\u0646\u060c \u064a\u0642\u0648\u0644 \u0632\u0627\u0646\u062f\u064a \u0623\u0646\u0647 \u0633\u064a\u0643\u0648\u0646 \u0645\u0646 \u0627\u0644\u0635\u0639\u0628 \u0639\u0644\u0649 \u0647\u0630\u0647 \u0627\u0644\u0623\u0633\u0648\u0627\u0642 \u0623\u0646 \u062a\u0628\u062f\u0623 \u0645\u0631\u0629 \u0623\u062e\u0631\u0649.<\/p>\n

That doesn’t necessarily mean V-shaped markets are in the clear. The labor markets in cities<\/a> such as Las Vegas, Phoenix and San Diego, whose future economic success will be critical to recovery, are heavily in housing-related industries, according to Moody’s. So long as those economies can weather their respective corrections, they should be all right.<\/p>\n

\u0623\u0633\u0648\u0627\u0642 \u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0627\u0644\u0623\u0645\u0631\u064a\u0643\u064a\u0629 \u0630\u0627\u062a \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0645\u0639\u0642\u0648\u0644\u0629<\/strong><\/p>\n

\u062e\u0644\u0641 \u0627\u0644\u0627\u0631\u0642\u0627\u0645 <\/em><\/strong>
\u0627\u0644\u0623\u0648\u0644 \u0647\u0648 \u0625\u0644\u0642\u0627\u0621 \u0646\u0638\u0631\u0629 \u0639\u0644\u0649 \u0646\u0633\u0628\u0629 \u0633\u0639\u0631 \u0627\u0644\u0645\u0646\u0632\u0644 \u0627\u0644\u0645\u062a\u0648\u0633\u0637 \u0625\u0644\u0649 \u0645\u062a\u0648\u0633\u0637 \u0631\u0627\u062a\u0628 \u0627\u0644\u0623\u0633\u0631\u0629\u060c \u0648\u0647\u0648 \u0645\u0627 \u064a\u062d\u062f\u062f \u0639\u062f\u062f \u0633\u0646\u0648\u0627\u062a \u0627\u0644\u0631\u0627\u062a\u0628 \u0627\u0644\u0625\u062c\u0645\u0627\u0644\u064a \u0627\u0644\u062a\u064a \u064a\u062a\u0639\u064a\u0646 \u0639\u0644\u0649 \u0627\u0644\u0623\u0633\u0631\u0629 \u0627\u0644\u0645\u062a\u0648\u0633\u0637\u0629 \u0625\u0646\u0641\u0627\u0642\u0647\u0627 \u0644\u0634\u0631\u0627\u0621 \u0627\u0644\u0645\u0646\u0632\u0644 \u0627\u0644\u0645\u062a\u0648\u0633\u0637. \u0648\u0641\u064a \u0625\u0646\u062f\u064a\u0627\u0646\u0627\u0628\u0648\u0644\u064a\u0633\u060c \u062d\u064a\u062b \u064a\u0628\u0644\u063a \u0645\u062a\u0648\u0633\u0637 \u062f\u062e\u0644 \u0627\u0644\u0623\u0633\u0631\u0629 $60,383\u060c \u0633\u064a\u0633\u062a\u063a\u0631\u0642 \u0627\u0644\u0623\u0645\u0631 \u0645\u0627 \u064a\u0642\u0644 \u0642\u0644\u064a\u0644\u0627\u064b \u0639\u0646 \u0639\u0627\u0645\u064a\u0646 \u0645\u0646 \u0627\u0644\u0631\u0627\u062a\u0628 \u0627\u0644\u0625\u062c\u0645\u0627\u0644\u064a \u0644\u0644\u0634\u0631\u0627\u0621.
\u0644\u0627 \u0628\u062f \u0623\u0646 \u0647\u0630\u0627 \u064a\u0628\u062f\u0648 \u062c\u0645\u064a\u0644\u0627\u064b \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0633\u0643\u0627\u0646 \u0644\u0648\u0633 \u0623\u0646\u062c\u0644\u0648\u0633\u060c \u062d\u064a\u062b \u064a\u0628\u0644\u063a \u0645\u062a\u0648\u0633\u0637 \u062f\u062e\u0644 \u0627\u0644\u0623\u0633\u0631\u0629 $58,319\u060c \u0644\u0643\u0646 \u0627\u0644\u0633\u0643\u0646 \u0623\u063a\u0644\u0649 \u0628\u062e\u0645\u0633 \u0645\u0631\u0627\u062a \u0645\u0646 \u0645\u062b\u064a\u0644\u0647 \u0641\u064a \u0625\u0646\u062f\u064a.<\/p>\n

\u0648\u064a\u062a\u062a\u0628\u0639 \u0627\u0644\u0645\u0642\u064a\u0627\u0633 \u0627\u0644\u062b\u0627\u0646\u064a \u0646\u0633\u0628\u0629 \u0627\u0644\u0645\u0646\u0627\u0632\u0644 \u0627\u0644\u0645\u0628\u0627\u0639\u0629 \u0641\u064a \u0627\u0644\u0631\u0628\u0639 \u0627\u0644\u0623\u0648\u0644 \u0645\u0646 \u0647\u0630\u0627 \u0627\u0644\u0639\u0627\u0645 \u0648\u0627\u0644\u062a\u064a \u0643\u0627\u0646\u062a \u0641\u064a \u0645\u062a\u0646\u0627\u0648\u0644 \u0627\u0644\u0623\u0633\u0631 \u0630\u0627\u062a \u0627\u0644\u062f\u062e\u0644 \u0627\u0644\u0645\u062a\u0648\u0633\u0637.<\/p>\n

This metric illustrates what’s at play in a market like San<\/a> Diego. The city might be in the midst of a price slump, but that doesn’t necessarily mean it has become significantly more affordable. Only 9% of San Diego homes sold in the first quarter of 2007 were within the reach of the median income-earning household, according to the National Association of Home Builders and the Wells Fargo affordability index, which assumes a 10% down payment and a market-rate mortgage.<\/p>\n

Economists say this indicates the top of the market<\/a> is moving, but the middle and bottom strata are having problems. In a market where housing is that unaffordable, buyers have to rely more heavily on credit. Potential future foreclosures can throw a market into stall–not a great sign for recovery.<\/p>\n

\u0639\u0642\u0627\u0631\u0627\u062a \u0645\u0639\u0642\u0648\u0644\u0629
<\/strong>
\u0642\u0627\u0631\u0646 \u0623\u0631\u0642\u0627\u0645 \u0633\u0627\u0646 \u062f\u064a\u064a\u063a\u0648 \u0628\u062a\u0644\u0643 \u0627\u0644\u0645\u0648\u062c\u0648\u062f\u0629 \u0641\u064a \u0627\u0644\u0645\u0646\u0627\u0637\u0642 \u0630\u0627\u062a \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0645\u0639\u0642\u0648\u0644\u0629 \u0641\u064a \u0627\u0644\u0628\u0644\u0627\u062f. \u0643\u0627\u0646 \u0645\u0627 \u064a\u0642\u0631\u0628 \u0645\u0646 90% \u0645\u0646 \u0645\u0628\u064a\u0639\u0627\u062a \u0625\u0646\u062f\u064a\u0627\u0646\u0627\u0628\u0648\u0644\u064a\u0633 \u0641\u064a \u0627\u0644\u0631\u0628\u0639 \u0627\u0644\u0623\u0648\u0644 \u0645\u0646 \u0647\u0630\u0627 \u0627\u0644\u0639\u0627\u0645 \u0641\u064a \u0645\u062a\u0646\u0627\u0648\u0644 \u0627\u0644\u0623\u0633\u0631 \u0627\u0644\u0645\u062a\u0648\u0633\u0637\u0629 \u0627\u0644\u062f\u062e\u0644. \u0641\u064a \u0633\u064a\u0646\u0633\u064a\u0646\u0627\u062a\u064a\u060c \u0643\u0627\u0646 \u0647\u0630\u0627 \u0627\u0644\u0631\u0642\u0645 78% \u0648\u0641\u064a \u0643\u0644\u064a\u0641\u0644\u0627\u0646\u062f\u060c 82%.<\/p>\n

\u0648\u062a\u0634\u0647\u062f \u0645\u0646\u0627\u0637\u0642 \u0623\u062e\u0631\u0649 \u0641\u064a \u0627\u0644\u0642\u0627\u0626\u0645\u0629\u060c \u0645\u062b\u0644 \u062f\u0627\u0644\u0627\u0633 \u0648\u0623\u062a\u0644\u0627\u0646\u062a\u0627\u060c \u0646\u0645\u0648\u064b\u0627\u060c \u0644\u0643\u0646\u0647\u0627 \u062a\u0638\u0644 \u0641\u064a \u0645\u062a\u0646\u0627\u0648\u0644 \u0627\u0644\u062c\u0645\u064a\u0639.
\u0648\u0627\u062d\u062a\u0644\u062a \u0627\u0644\u0642\u062f\u0631\u0629 \u0639\u0644\u0649 \u062a\u062d\u0645\u0644 \u062a\u0643\u0627\u0644\u064a\u0641 \u0627\u0644\u0633\u0639\u0631 \u0625\u0644\u0649 \u0627\u0644\u062f\u062e\u0644 \u0641\u064a \u062f\u0627\u0644\u0627\u0633 \u0627\u0644\u0645\u0631\u062a\u0628\u0629 \u0627\u0644\u0633\u0627\u0628\u0639\u0629 \u0628\u0634\u0643\u0644 \u0639\u0627\u0645\u060c \u0648\u0643\u0627\u0646 \u0623\u0642\u0644 \u0628\u0642\u0644\u064a\u0644 \u0645\u0646 70% \u0645\u0646 \u0627\u0644\u0645\u0646\u0627\u0632\u0644 \u0627\u0644\u0645\u0628\u0627\u0639\u0629 \u0641\u064a \u0623\u062a\u0644\u0627\u0646\u062a\u0627 \u0641\u064a \u0627\u0644\u0631\u0628\u0639 \u0627\u0644\u0623\u0648\u0644 \u0645\u0646 \u0647\u0630\u0627 \u0627\u0644\u0639\u0627\u0645 \u0645\u062a\u0627\u062d\u0629 \u0644\u0644\u0623\u0633\u0631 \u0630\u0627\u062a \u0627\u0644\u062f\u062e\u0644 \u0627\u0644\u0645\u062a\u0648\u0633\u0637. \u064a\u0645\u0643\u0646 \u0623\u0646 \u062a\u0638\u0644 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 \u0641\u064a \u0645\u062a\u0646\u0627\u0648\u0644 \u0627\u0644\u062c\u0645\u064a\u0639 \u0641\u064a \u0627\u0644\u0645\u062f\u0646 \u0633\u0631\u064a\u0639\u0629 \u0627\u0644\u0646\u0645\u0648 \u0639\u0646\u062f\u0645\u0627 \u062a\u0643\u0648\u0646 \u0647\u0646\u0627\u0643 \u0645\u0639\u062f\u0644\u0627\u062a \u0639\u0627\u0644\u064a\u0629 \u0644\u0628\u0646\u0627\u0621 \u0627\u0644\u0645\u0646\u0627\u0632\u0644 \u0627\u0644\u062c\u062f\u064a\u062f\u0629 \u0648\u062a\u062e\u0641\u064a\u0641 \u0642\u064a\u0648\u062f \u0627\u0644\u0646\u0645\u0648.
\u0627\u0631\u062a\u0641\u0627\u0639 \u0627\u0644\u0637\u0644\u0628 \u0644\u0627 \u064a\u0639\u064a\u0642 \u0628\u0627\u0644\u0636\u0631\u0648\u0631\u0629 \u0627\u0644\u0642\u062f\u0631\u0629 \u0639\u0644\u0649 \u062a\u062d\u0645\u0644 \u0627\u0644\u062a\u0643\u0627\u0644\u064a\u0641 \u0623\u064a\u0636\u064b\u0627.<\/p>\n

\u0627\u0641\u062d\u0635 \u0627\u0644\u0641\u0631\u0642 \u0628\u064a\u0646 \u0628\u0648\u0633\u0637\u0646 \u0648\u0631\u0627\u0644\u064a\u060c \u0643\u0627\u0631\u0648\u0644\u0627\u064a\u0646\u0627 \u0627\u0644\u0634\u0645\u0627\u0644\u064a\u0629\u061b \u0645\u0646\u0630 \u0639\u0627\u0645 2000\u060c \u0634\u0647\u062f\u062a \u0628\u0648\u0633\u0637\u0646 \u0647\u062c\u0631\u0629 \u0645\u0633\u062a\u0645\u0631\u0629\u060c \u0641\u064a \u062d\u064a\u0646 \u0631\u062d\u0628\u062a \u0631\u0627\u0644\u064a \u0628\u0627\u0644\u0645\u0642\u064a\u0645\u064a\u0646 \u0627\u0644\u062c\u062f\u062f.<\/p>\n

\u0648\u0644\u0643\u0646 \u062e\u0644\u0627\u0644 \u062a\u0644\u0643 \u0627\u0644\u0641\u062a\u0631\u0629\u060c \u0627\u0631\u062a\u0641\u0639\u062a \u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0645\u0633\u0627\u0643\u0646 \u0641\u064a \u0628\u0648\u0633\u0637\u0646 \u0628\u0645\u0642\u062f\u0627\u0631 16.7%\u060c \u0648\u064a\u0645\u0643\u0646 \u0644\u0644\u0623\u0633\u0631 \u0630\u0627\u062a \u0627\u0644\u062f\u062e\u0644 \u0627\u0644\u0645\u062a\u0648\u0633\u0637 \u0623\u0646 \u062a\u062a\u062d\u0645\u0644 \u062d\u0648\u0627\u0644\u064a \u0646\u0635\u0641 \u0645\u0627 \u0643\u0627\u0646\u062a \u062a\u0633\u062a\u0637\u064a\u0639 \u062a\u062d\u0645\u0644\u0647 \u0642\u0628\u0644 \u0633\u0628\u0639 \u0633\u0646\u0648\u0627\u062a. \u0641\u064a \u0631\u0627\u0644\u064a\u060c \u0627\u0631\u062a\u0641\u0639\u062a \u0623\u0633\u0639\u0627\u0631 \u0627\u0644\u0645\u0646\u0627\u0632\u0644 \u0628\u0645\u0642\u062f\u0627\u0631 37%\u060c \u0644\u0643\u0646 \u062d\u0635\u0629 \u0623\u0635\u062d\u0627\u0628 \u0627\u0644\u062f\u062e\u0644 \u0627\u0644\u0645\u062a\u0648\u0633\u0637 \u0627\u0644\u0630\u064a\u0646 \u064a\u0633\u062a\u0637\u064a\u0639\u0648\u0646 \u0634\u0631\u0627\u0621 \u0627\u0644\u0645\u0646\u0627\u0632\u0644 \u0627\u0646\u062e\u0641\u0636\u062a \u0641\u0642\u0637 \u0628\u0645\u0642\u062f\u0627\u0631 3%\u060c \u0643\u0644 \u0630\u0644\u0643 \u0628\u064a\u0646\u0645\u0627 \u0634\u0647\u062f\u062a \u0627\u0644\u0645\u062f\u064a\u0646\u0629 \u0637\u0641\u0631\u0629 \u0633\u0643\u0627\u0646\u064a\u0629.<\/p>\n

\u0642\u062f \u064a\u0643\u0648\u0646 \u0627\u0644\u0633\u0628\u0628 \u0647\u0648 \u0627\u0644\u0632\u064a\u0627\u062f\u0629 \u0627\u0644\u0643\u0628\u064a\u0631\u0629 \u0641\u064a \u0628\u0646\u0627\u0621 \u0627\u0644\u0645\u0646\u0627\u0632\u0644 \u0627\u0644\u062c\u062f\u064a\u062f\u0629 \u0648\u0633\u064a\u0627\u0633\u0627\u062a \u0627\u0644\u0646\u0645\u0648 \u063a\u064a\u0631 \u0627\u0644\u0645\u062b\u0642\u0644\u0629 \u0628\u0627\u0644\u0644\u0648\u0627\u0626\u062d \u0627\u0644\u062a\u0646\u0638\u064a\u0645\u064a\u0629 \u0648\u0627\u0644\u062a\u064a \u0643\u0627\u0646\u062a \u0628\u0645\u062b\u0627\u0628\u0629 \u062a\u062e\u0641\u064a\u0641 \u0644\u0644\u0623\u0633\u0639\u0627\u0631 \u0641\u064a \u0631\u0627\u0644\u064a. \u0644\u064a\u0633 \u0644\u062f\u0649 \u0628\u0648\u0633\u0637\u0646 \u0645\u062b\u0644 \u0647\u0630\u0647 \u0627\u0644\u0633\u064a\u0627\u0633\u0627\u062a \u0648\u0644\u0645 \u062a\u0634\u0647\u062f \u0642\u062f\u0631\u064b\u0627 \u0643\u0628\u064a\u0631\u064b\u0627 \u0645\u0646 \u0628\u0646\u0627\u0621 \u0627\u0644\u0645\u0646\u0627\u0632\u0644 \u0627\u0644\u062c\u062f\u064a\u062f\u0629.<\/p>\n

\u064a\u062d\u062a\u0644 \u0643\u0644 \u0645\u0646 \u0631\u0627\u0644\u064a \u0648\u0634\u0627\u0631\u0644\u0648\u062a \u0627\u0644\u0645\u0631\u062a\u0628\u0629 12 \u064813 \u0639\u0644\u0649 \u0627\u0644\u062a\u0648\u0627\u0644\u064a.<\/p>\n

\u0628.
\u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0648\u0623\u0632\u0645\u0629 \u0627\u0644\u0631\u0647\u0646 \u0627\u0644\u0639\u0642\u0627\u0631\u064a<\/strong>

\u0627\u0644\u062f\u0641\u0639\u0629 \u0627\u0644\u0623\u0648\u0644\u0649 \u062a\u0639\u0648\u062f \u0645\u0646 \u062c\u062f\u064a\u062f<\/em><\/p>\n

As a result of the collapse of the subprime mortgage market, lenders will — gasp! — once again require down payments, filling the market with unsold homes<\/a> and driving down prices.<\/p>\n

\u0641\u064a \u0627\u0644\u0623\u0633\u0627\u0633\u060c \u0627\u062e\u062a\u0641\u062a \u0635\u0646\u0627\u0639\u0629 \u0627\u0644\u0631\u0647\u0646 \u0627\u0644\u0639\u0642\u0627\u0631\u064a \u2013 \u0627\u0644\u062a\u064a \u062a\u0642\u0631\u0636 \u0627\u0644\u0645\u0633\u062a\u0647\u0644\u0643\u064a\u0646 \u0627\u0644\u0630\u064a\u0646 \u064a\u0639\u0627\u0646\u0648\u0646 \u0645\u0646 \u0645\u0634\u0627\u0643\u0644 \u0627\u0626\u062a\u0645\u0627\u0646\u064a\u0629. \u0648\u0628\u0645\u0627 \u0623\u0646 \u0627\u0644\u0628\u0646\u062f\u0648\u0644 \u062a\u0623\u0631\u062c\u062d \u0642\u062f\u0631 \u0627\u0633\u062a\u0637\u0627\u0639\u062a\u0647 \u0641\u064a \u0627\u062a\u062c\u0627\u0647 \u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0627\u0644\u0645\u062a\u0647\u0648\u0631\u060c \u0648\u0647\u0648 \u0645\u0627 \u0643\u0627\u0646\u062a \u062a\u062f\u0648\u0631 \u062d\u0648\u0644\u0647 \u0627\u0644\u0641\u0642\u0627\u0639\u0629 \u0628\u0631\u0645\u062a\u0647\u0627\u060c \u0641\u0625\u0646\u0647 \u0633\u0648\u0641 \u064a\u062a\u0623\u0631\u062c\u062d \u0627\u0644\u0622\u0646 \u0646\u062d\u0648 \u0627\u0644\u0641\u0643\u0631\u0629 \u0627\u0644\u063a\u0631\u064a\u0628\u0629 \u0627\u0644\u0645\u062a\u0645\u062b\u0644\u0629 \u0641\u064a \u0623\u0646 \u0627\u0644\u0646\u0627\u0633 \u064a\u064f\u0642\u0631\u0636\u0648\u0646 \u0641\u0642\u0637 \u0627\u0644\u0645\u0628\u0627\u0644\u063a \u0627\u0644\u0645\u0627\u0644\u064a\u0629 \u0627\u0644\u062a\u064a \u0645\u0646 \u0627\u0644\u0645\u062a\u0648\u0642\u0639 \u0645\u0646\u0647\u0645 \u0623\u0646 \u064a\u0633\u062f\u062f\u0648\u0647\u0627. \u0648\u060c
\u0633\u064a\u0631\u063a\u0628 \u0627\u0644\u0645\u0642\u0631\u0636\u0648\u0646 \u0641\u064a \u0623\u0646 \u062a\u062a\u0645\u062a\u0639 \u0642\u0631\u0648\u0636\u0647\u0645 \u0628\u0647\u0627\u0645\u0634 \u0623\u0645\u0627\u0646\u060c \u0641\u064a \u0634\u0643\u0644 \u062f\u0641\u0639\u0627\u062a \u0645\u0642\u062f\u0645\u0629.<\/p>\n

\u0648\u0644\u0633\u0648\u0621 \u0627\u0644\u062d\u0638\u060c \u0633\u064a\u0643\u0648\u0646 \u0627\u0644\u0643\u062b\u064a\u0631 \u0645\u0646 \u0627\u0644\u0646\u0627\u0633 \u063a\u0627\u0631\u0642\u064a\u0646 \u0641\u064a \u0627\u0644\u062f\u064a\u0648\u0646\u060c \u0648\u0633\u064a\u0643\u0648\u0646 \u0645\u0646 \u0627\u0644\u0635\u0639\u0628 \u0628\u064a\u0639 \u0627\u0644\u0645\u0646\u0627\u0632\u0644 - \u0623\u0648 \u0634\u0631\u0627\u0626\u0647\u0627 - \u0645\u0639 \u062a\u063a\u064a\u0631 \u0645\u0639\u0627\u064a\u064a\u0631 \u0627\u0644\u0625\u0642\u0631\u0627\u0636 \u0625\u0644\u0649 \u0627\u0644\u0645\u0628\u0627\u062f\u0626 \u0627\u0644\u062a\u0648\u062c\u064a\u0647\u064a\u0629 \u0627\u0644\u0635\u0627\u0631\u0645\u0629 \u0645\u0646 \u0642\u0628\u0644.<\/p>\n

Subprime ripple effect hits retail real estate according to market research<\/a><\/strong><\/p>\n

\u0644\u0645 \u064a\u0645\u0636 \u0648\u0642\u062a \u0637\u0648\u064a\u0644 \u0628\u0639\u062f \u0627\u0646\u0647\u064a\u0627\u0631 \u0635\u0646\u0627\u0639\u0629 \u0627\u0644\u062f\u0648\u062a \u0643\u0648\u0645 \u0642\u0628\u0644 \u0628\u0636\u0639 \u0633\u0646\u0648\u0627\u062a\u060c \u062d\u062a\u0649 \u0623\u0635\u0628\u062d\u062a \u062a\u062c\u0627\u0631\u0629 \u0627\u0644\u062a\u062c\u0632\u0626\u0629 \u0627\u0644\u0642\u0637\u0627\u0639 \u0627\u0644\u0623\u0643\u062b\u0631 \u0633\u062e\u0648\u0646\u0629 \u0641\u064a \u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0627\u0644\u062a\u062c\u0627\u0631\u064a\u0629. \u0648\u0644\u0645 \u064a\u0639\u062f \u064a\u064f\u0646\u0638\u0631 \u0625\u0644\u0649 \u0627\u0644\u062a\u0633\u0648\u0642 \u0639\u0628\u0631 \u0627\u0644\u0625\u0646\u062a\u0631\u0646\u062a \u0628\u0627\u0639\u062a\u0628\u0627\u0631\u0647 \u062a\u0647\u062f\u064a\u062f\u0627 \u0644\u0644\u0645\u062a\u0627\u062c\u0631 \u0627\u0644\u0641\u0639\u0644\u064a\u0629\u060c \u0643\u0645\u0627 \u0623\u0646 \u0627\u0631\u062a\u0641\u0627\u0639 \u0642\u064a\u0645\u0629 \u0627\u0644\u0645\u0633\u0627\u0643\u0646 \u062c\u0639\u0644 \u0645\u0646 \u0627\u0644\u0633\u0647\u0644 \u0639\u0644\u0649 \u0627\u0644\u0646\u0627\u0633 \u0627\u0642\u062a\u0631\u0627\u0636 \u0627\u0644\u0645\u0632\u064a\u062f \u0645\u0646 \u0627\u0644\u0645\u0627\u0644 \u0640\u0640 \u0648\u0625\u0646\u0641\u0627\u0642\u0647. \u0628\u062f\u0623\u062a \u0645\u0631\u0627\u0643\u0632 \u0627\u0644\u062a\u0633\u0648\u0642 \u0641\u064a \u062a\u063a\u064a\u064a\u0631 \u0627\u0644\u0623\u064a\u062f\u064a \u0628\u0623\u0633\u0639\u0627\u0631 \u0645\u062a\u0635\u0627\u0639\u062f\u0629 \u0628\u0627\u0633\u062a\u0645\u0631\u0627\u0631.<\/p>\n

\u0642\u0628\u0644 \u0639\u0627\u0645\u064a\u0646\u060c \u0628\u062f\u0623\u062a \u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0628\u0627\u0644\u062a\u062c\u0632\u0626\u0629 \u062a\u0641\u0642\u062f \u0628\u0639\u0636 \u062c\u0627\u0630\u0628\u064a\u062a\u0647\u0627 \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0645\u0639 \u0633\u064a\u0637\u0631\u0629 \u062c\u0646\u0648\u0646 \u062a\u062d\u0648\u064a\u0644 \u0627\u0644\u0634\u0642\u0642 \u0627\u0644\u0633\u0643\u0646\u064a\u0629. \u0648\u0641\u064a \u0627\u0644\u0622\u0648\u0646\u0629 \u0627\u0644\u0623\u062e\u064a\u0631\u0629\u060c \u0627\u0646\u062c\u0630\u0628 \u0627\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u0648\u0646 \u0646\u062d\u0648 \u0645\u0628\u0627\u0646\u064a \u0627\u0644\u0645\u0643\u0627\u062a\u0628 \u0648\u0627\u0644\u0641\u0646\u0627\u062f\u0642.<\/p>\n

\u0627\u0644\u0622\u0646 \u064a\u0633\u062a\u0639\u062f \u0627\u0644\u0639\u062f\u064a\u062f \u0645\u0646 \u0627\u0644\u0623\u0634\u062e\u0627\u0635 \u0641\u064a \u0635\u0646\u0627\u0639\u0629 \u0627\u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0628\u0627\u0644\u062a\u062c\u0632\u0626\u0629 \u0644\u062a\u0628\u0627\u0637\u0624 \u0627\u0644\u0625\u0646\u0641\u0627\u0642 \u0645\u0639 \u0627\u0633\u062a\u0645\u0631\u0627\u0631 \u0623\u0632\u0645\u0629 \u0627\u0644\u0631\u0647\u0646 \u0627\u0644\u0639\u0642\u0627\u0631\u064a \u0648\u062a\u0631\u0627\u062c\u0639 \u0642\u064a\u0645\u0629 \u0627\u0644\u0645\u0633\u0627\u0643\u0646 \u0641\u064a \u0625\u0631\u0633\u0627\u0644 \u062a\u0645\u0648\u062c\u0627\u062a \u0639\u0628\u0631 \u0627\u0644\u0627\u0642\u062a\u0635\u0627\u062f.
And shopping centers have been caught in the credit squeeze that has transformed the capital markets<\/a>. Private buyers, who were once able to finance 95 percent or more of the cost of a transaction, are being driven out of the market because such high leverage is no longer available.<\/p>\n

\u0648\u0648\u0641\u0642\u0627 \u0644\u0644\u0645\u0633\u062a\u062b\u0645\u0631\u064a\u0646 \u0648\u0627\u0644\u0648\u0633\u0637\u0627\u0621 \u0648\u0627\u0644\u0645\u062d\u0644\u0644\u064a\u0646\u060c \u0641\u0625\u0646 \u0627\u0644\u0635\u0641\u0642\u0627\u062a \u062a\u0633\u062a\u063a\u0631\u0642 \u0648\u0642\u062a\u0627 \u0623\u0637\u0648\u0644 \u0644\u0625\u062a\u0645\u0627\u0645\u0647\u0627\u060c \u0643\u0645\u0627 \u0623\u0646 \u0627\u0644\u0623\u0633\u0639\u0627\u0631 - \u0639\u0644\u0649 \u0627\u0644\u0623\u0642\u0644 \u0628\u0627\u0644\u0646\u0633\u0628\u0629 \u0644\u0639\u0642\u0627\u0631\u0627\u062a \u0627\u0644\u062f\u0631\u062c\u0629 \u0627\u0644\u062b\u0627\u0646\u064a\u0629 \u0648\u0627\u0644\u062b\u0627\u0644\u062b\u0629 - \u0622\u062e\u0630\u0629 \u0641\u064a \u0627\u0644\u0627\u0646\u062e\u0641\u0627\u0636 \u0628\u0646\u0633\u0628\u0629 \u062a\u0635\u0644 \u0625\u0644\u0649 10 \u0641\u064a \u0627\u0644\u0645\u0627\u0626\u0629.<\/p>\n

\u00a0<\/p>","protected":false},"excerpt":{"rendered":"

\"\"<\/span><\/span>\u0645\u0644\u062e\u0635<\/strong><\/p>\n

\u064a\u062a\u0631\u0643\u0632 \u0627\u0644\u0645\u0646\u0627\u0641\u0633\u0648\u0646 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u0648\u0646 \u0641\u064a \u0633\u0648\u0642 \u0627\u0644\u0648\u0644\u0627\u064a\u0627\u062a \u0627\u0644\u0645\u062a\u062d\u062f\u0629 \u0641\u064a \u062b\u0644\u0627\u062b \u0645\u0646\u0627\u0637\u0642: \u0627\u0644\u0633\u0627\u062d\u0644 \u0627\u0644\u0634\u0631\u0642\u064a \u0648\u0627\u0644\u063a\u0631\u0628 \u0627\u0644\u0623\u0648\u0633\u0637 \u0648\u0627\u0644\u0633\u0627\u062d\u0644 \u0627\u0644\u063a\u0631\u0628\u064a. \u0648\u062a\u0634\u0645\u0644 \u0645\u0646\u0627\u0637\u0642 \u0627\u0644\u062a\u0631\u0643\u064a\u0632 \u0627\u0644\u062e\u0627\u0635\u0629 \u0643\u0627\u0644\u064a\u0641\u0648\u0631\u0646\u064a\u0627 \u0648\u0645\u064a\u0633\u0648\u0631\u064a \u0648\u0646\u0628\u0631\u0627\u0633\u0643\u0627 \u0648\u0628\u0646\u0633\u0644\u0641\u0627\u0646\u064a\u0627.<\/p>\n

\u0628\u0639\u0636 \u0627\u0644\u0644\u0627\u0639\u0628\u064a\u0646 \u0627\u0644\u0631\u0626\u064a\u0633\u064a\u064a\u0646 \u0641\u064a \u0627\u0644\u0635\u0646\u0627\u0639\u0629 \u0645\u0646 \u0641\u0644\u0648\u0631\u064a\u062f\u0627 \u0648\u0646\u064a\u0648\u064a\u0648\u0631\u0643 \u0647\u0645 \u0643\u0645\u0627 \u064a\u0644\u064a:<\/p>","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[292],"tags":[],"class_list":["post-11888","post","type-post","status-publish","format-standard","hentry","category-strategy","generate-columns","tablet-grid-50","mobile-grid-100","grid-parent","grid-50"],"_links":{"self":[{"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/posts\/11888","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/comments?post=11888"}],"version-history":[{"count":7,"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/posts\/11888\/revisions"}],"predecessor-version":[{"id":81459,"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/posts\/11888\/revisions\/81459"}],"wp:attachment":[{"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/media?parent=11888"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/categories?post=11888"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.sisinternational.com\/ar\/wp-json\/wp\/v2\/tags?post=11888"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}