yet, we see so much talk about the stock market.

然而我们过多关注于股票市场
When we started in 1988

当1988年我们开始研究时
we realized not only was there no market for single family homes,

我们发现根本没有独户别墅的交易市场
except the very local market,

当然小地方的当地市场除外
there was also no price index for single family homes.

更没有关于独户别墅的价格指数
It's just sometimes amazing how undeveloped things are.

有时我们会惊叹这方面我们居然会这么落后
Here we are in the twentieth century,

现在都进入二十世纪了
everything is computerized and all that,

一切都已信息化
but you just want to know what home prices have been doing

但是你就想知道美国
in the United States in the late 1980s

八十年代末的房屋价格
and you couldn't find out.

可是你却找不到
There were some indexes,

尽管是有一些指数