First and foremost, favorable conditions existed for the residential housing market in the period between 2002 and 2005.

首先，存在有利条件，在2002年至2005年期间，住宅房屋市场。

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Also borrowers in the residential housing market have basically no principal-agent problems since they buy for themselves;

在房地产市场上，贷款方也几乎没有 委托代理问题，因为他们是为自己买卖；

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With the growing maturity of the domestic real estate market, residential housing will be phased out the real estate market and all decorated houses will occupy most of the housing market.

随着国内房地产市场的日趋成熟，住宅毛坯房将逐步退出房地产市场，全装修房将占领大部房产市场。

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In April 2007, we issued a report headlined The Second Wave of the Housing Tsunami: 2007-2011 in which we suggested commercial real estate was likely to be the second shoe to drop in what was already an unnerving collapse in the residential housing market.

FORBES: Big Storm Brewing In Commercial Real Estate

Bramah wrapped up the panel by saying investors should favor companies that build mass-market residential housing over luxury developments, as well as ones that focus on the slightly smaller, second-tier cities in the mainland rather than metropolises like Beijing and Shanghai.

FORBES: 'Bless The Mainlanders For Helping Stoke Our Economy'

The housing market advanced as residential fixed investment, which includes spending on home improvements, grew by 15.3% in the fourth quarter.

WSJ: U.S. Economy Contracts in Fourth Quarter