Housing Prices Fall in Great Britain

Average prices fell by 0.4% in December, bringing the annual inflation rate down from 8.1% in November to 6.7% last month.

The December fall was the first decline recorded by the Land Registry since August 2005, although prices grew in three individual regions.

It said the latest data was "a clear indication of a weakening market".

Here is the BBC STORY.

This article is showing that not only is the housing market is declining in the United States but around the world. Due to the lack of spending, inflation has gone down in Great Britain as well. An economic downturn in Europe is not something that the global economy needs, especially with the recent slippage in Asian and American stock markets.

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