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The income gap between the US’s richest and poorest metropolitan regions has reached its widest on record, shaping an uneven housing recovery that threatens to hold back the broader revival of the world’s largest economy.
美國最富有城市與最貧窮城市之間的收入差距擴大到有記錄以來最大程度，導致房地產市場形成不均衡的復蘇態勢，可能會阻礙這個全球最大經濟體的整體復蘇。
The gap has narrowed and widened in past cycles, but the rebound from the most recent financial crisis has seen the ratio at its most unequal since data collection began 45 years ago, fuelling policy makers’ concerns.
在過去的經濟周期中，這一差距有時縮窄，有時擴大，但最近一次金融危機過后，這一比率處于45年來的最高水平，將加劇政策制定者的擔憂。
Commerce and Labor Department data for the 100 largest metropolitan areas by population found the income disparity between the 10th most expensive region and the 90th by home prices in 2013 was the widest since records began in 1969.
根據美國商務與勞工部(Commerce and Labor Department)收集的100個最大城市（按人口計算）的數據，在2013年，如將這100個城市按房價由高到低排列，排位第10的城市與排位第90的城市間的收入差距，為1969年有記錄以來最大。
The research, analysed for the Financial Times by property website Trulia, shows Boston, ranked at 10, reporting a per-capita income 1.61 times that of Cincinnati ranked at 90. At its low point in 1976, the gap was 1.36 times, between San Francisco and El Paso.
房地產網站Trulia為英國《金融時報》所做的研究顯示，排名第10的波士頓的人均收入，是排名第90位的辛辛那提的1.61倍。這個比率在1976年時最低，當時舊金山與埃爾帕索的收入之比為1.36。
A patchy labour market recovery has meant significant variations in job and income growth between regions across the US, which in turn has intensified the divergences across the country’s housing markets.
各地勞動力市場的不均衡復蘇，導致美國不同地區的就業和收入增速存在巨大差距，進而加劇了美國各地房地產市場的差異。
“Housing markets are playing out at very different speeds partly as a result of the lack of geographical breadth in the labour market. Certain sectors of the economy are performing better than others propelling some housing markets over others,” said Fannie Mae economist Mark Palim.
房利美(Fannie Mae)經濟學家馬克•帕里姆(Mark Palim)表示：“房地產市場的復蘇速度差異很大，部分原因是勞動力市場參差不齊。一些經濟領域的表現優于其他領域，這促使一些地方的房地產市場要好于其他地區。”
While some areas are experiencing bubble-like conditions, others are flailing. In Austin, Texas, a surge in technology jobs has driven demand. But in Akron, Ohio, which is struggling to boost employment through a new manufacturing base, house purchases have been more muted. In the government town of Sacramento, California, anxious homebuyers are waiting on the sidelines after being priced out by investors.
一些地區的房市似乎已經出現了泡沫，但另一些則步履維艱。在德克薩斯州的奧斯丁，技術就業的大幅增加拉動了需求。而在俄亥俄州的阿克倫——該市正通過建設一個新制造業基地促進就業——住宅銷售情況則較為低迷。在加州首府薩克拉門托，在被投資者炒出的高房價嚇退后，其他購房者還在保持觀望態度。
Stanley Fischer, Janet Yellen’s deputy chairman at the Federal Reserve, highlighted the central bank’s concern about housing in a speech this week. “The housing sector was at the epicentre of the US financial crisis and recession and it continues to weigh on the recovery,” he said.
美聯儲(Fed)副主席斯坦利•費希爾(Stanley Fischer)本周在一次演講中強調了美聯儲對房地產行業的擔憂。他表示：“房地產行業是此次美國金融危機和衰退的震源，它將繼續給經濟復蘇帶來壓力。”
The number of Americans in work has passed pre-recession peaks. But there has been little lower and middle-wage growth.
美國就業人數已超過衰退前的峰值水平，但中低收入群體的薪資幾乎未見增長。
