so therefore you've got necessity of more demand for subprime loans.

因此对次贷的需求就增加了
These are approvals though.

不过这是需要通过批准的
That means the bankers had to say yes,

也就是说需要银行同意
so bankers had to go along with this to get this graph. Yeah.

银行赞同这做法才会出现图中现象
When prices are rising there's this almost--

一旦价格上涨
there's a market contagion that prices can't fall down,

由于市场感染所有价格都不会下跌
they can just go upwards,

只会盲目地上涨
so people in general just start taking more risks

这样普通百姓就开始要冒更大的险
and financial institutions which grant these subprime loans

批准这些次贷的金融机构
also become overly optimistic.

也变得过于乐观
They all feel that prices have to go up, and they feel

他们都认为价格一定会持续上涨
that the real value of houses have increased, and that is--

还认为房子真正的价格也增加了