||1:Over the past half-year, the government has unveiled a series of measures to support the housing market that specifically exclude China’s five hottest markets (Beijing, Guangzhou, Sanya, Shanghai and Shenzhen).||2:People buying homes need only make a 20% down-payment to obtain a mortgage, except in the five conurbations, where they must put down 30%. By the same token, in most of the country transaction taxes have been cut by as much as two-thirds for people buying second homes; in the five outliers they have been left unchanged.||3:In Shenzhen, a southern tech hub that is the frothiest market, with prices up by 53% in the past year alone, local officials have vowed to crack down on speculators and expand the supply of affordable housing.

||1:在过去半年里，政府出台了一系列政策来稳住大部分城市的房地产市场（北京、广州、三亚、上海和深圳这五个房地产最火的城市除外）。||2:购房者只需支付20%的首付款即可获得房屋贷款（这五个城市则需要付30%）；二套房购买者所要上缴的交易契税也减免了2/3（这五个城市保持不变）。||3:深圳作为南方的科技中心，房价在去年一年上涨53%，成为泡沫最严重的城市，当地政府发誓要严控房产投机并加大可负担住房的供应。

Unlike many of Africa's frothiest economies, Kenya does not have a rich bounty of minerals or oil to export.

和非洲许多泡沫经济国家不同，肯尼亚没有丰富的矿藏也没有大量的石油以供出口。

China A shares have been the frothiest this year, up by 104%.

今年年增104%的中国的A股市场最像泡沫。

Asia's frothiest housing markets are calming down. Is America's bottoming?

亚洲泡沫最多的楼市不再蒸蒸日上。美国的楼市触底了吗？

Singapore has overtaken Hong Kong to become the frothiest housing market among those we monitor.

在我们监测的地区里，新加坡已经超过香港，成为泡沫最多的房产市场。