| English term or phrase: housing bubble | That victory was soon followed by trauma. First, the terrorist attacks on July 7th 2005, which killed 52 people. Then, in 2008, as Britain entered a recession it is still struggling to exit, London looked likely to suffer disproportionately. Its colossal financial centre and housing bubble were obvious liabilities. The post-national city state was set to become a bit more like the rest of the country: less wealthy, less diverse, less at ease with the furious swirl of globalisation.
http://www.economist.com/node/21537919
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The translation workplace 
peer agreement (net): +6