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Interest rates kept on hold despite house prices plummeting record 12.7%
Interest rates were held at five per cent today despite new figures showing house prices have recorded a double-digit fall for the first time since records began in 1983.

U.K. August Home Prices Plunge the Most in 25 Years (Update2)
Sept. 4 (Bloomberg) -- U.K. house prices plunged at the fastest annual pace in at least a quarter century in August as banks withheld finance for new homes and consumers lost confidence in the economy, HBOS Plc said.

Special Reports
Michael Hudson is a former Wall Street economist specializing in the balance of payments and real estate at the Chase Manhattan Bank (now JP Morgan Chase & Co.), Arthur Anderson, and later at the Hudson Institute (no relation).

House prices fall at record rate
The rate at which house prices are falling hit a new record in August with the Halifax index recording double-digit annual drops for the first time ever, figures showed today.

House prices fall 12% as market records biggest plunge in 25 years
House prices have fallen a massive 12.7 per cent in the past year in the biggest ever drop since records began a quarter of a century ago.

Who Holds the Old Maid?
When is the credit crisis going to end? How will we know? The credit crisis is getting ready to enter its second phase. This week we examine what that means, and what the economic environment will look like over the coming quarters.