22.10.2008 - UK: House-price slump to cost economy £50 billion
From Telegraph: With house prices predicted to make their biggest fall in British history by dropping 35 per cent by autumn next year, the associated consumer spending is expected to plunge, they said. It comes as the Government's own data revealed that the number of completed housing transactions dropped to a record low in September of just 59,000, compared to 154,000 at its height in December 2006..... Full Article: Source