So changes to house prices aggravate the economic cycle.

因此房价的变动使经济周期恶化。

You can factor in where the market stands in the economic cycle.

可以把它纳入景气循环中市场的位置。

It was, essentially, assuming that there was no more economic cycle.

它是，基本上，假设有没有更多的经济周期。

Seamless experts said it is mainly determined by the economic cycle.

无缝管专家表示这主要是由经济周期决定的。

But the thing about the economic cycle is that it is, well, cyclical.

但经济周期的问题在于，它是周期性的。