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How To Make Real Money On Ebay And Work From Home
In this article I am going to explain step by step how it is possible to make real money using online auction websites like Ebay, Ebid, Yahoo Auctions etc...

You will be making good money in no time if you just follow these simple steps

The first thing you should consider is what product to sell(sounds obvious does`nt it) but you will be amazed at how many people are selling things that make very little profit or do not sell at all.

To do your research go to Ebay and have a look at the completed listings of the product you are thinking of selling and you can see how many are selling, how much the price changes and also what is not selling.

One of the main differences to whether your item sells or not is the listing you write to describe your item, you need to be able to put some real passion in the description and make the prospect buyer feel as though he is missing out if he/she leaves the auction.Also if you include a picture(good quality) that will make a big difference and always go for the option to make your listing have a little picture shown in the listings.

Simple steps like this will explode the sales you make with your

Making Online Business Marketing Is A Free Proven New Ways To Make Money Online Free Of Cost

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Added: January 6, 2009

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Help to Suceed in Cash Gifting

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going into a Great Depression. Notice

U.S. economy probably lost more jobs in 2008 than in any year since the end of World War II as firings rippled from homebuilders and automakers to banks and retailers, a government report may show this week. Payrolls fell 500,000 in December, bringing last years decline to 2.4 million, the most since 1945, according to the median estimate of economists surveyed by Bloomberg News ahead of Labor Department figures due Jan. 9. The unemployment rate likely jumped to the highest level since 1993. The figures will underscore the urgency behind President- elect Barack Obamas plan to pass a stimulus package that will create jobs and mitigate the recession, already the longest in a quarter century. Other reports may show slumps in housing, manufacturing and service industries deepened at the end of last year, setting the stage for more weakness in 2009. (ARTICLE CONTINUES BELOW) Were continuing to lose massive amounts of jobs, said Michael Feroli, an economist at JPMorgan Chase & Co. in New York. The negative momentum carrying over into the first half of 2009 will hold down the economy regardless of policy. The jobless rate probably climbed to 7 percent in December from 6.7 percent the prior month, according to the survey median. Manufacturers probably cut 103,000 workers from payrolls, the report may also show. Factories, which make up 12 percent of the economy, shrank in December at the fastest pace in 28 years as new orders for products from cars to furniture reached the lowest level since records began in 1948, the Institute for Supply Management reported last week. Auto Bailout The Bush administration agreed last month to give General Motors Corp. and Chrysler LLC $13.4 billion in federal loans to avert bankruptcy. GM, whose shares slid 87 percent in 2008 ? the most among the 30 companies in the Dow Jones Industrial Average - - and Chrysler probably led a drop in December U.S. auto sales that capped the industrys worst year since 1992, according to the average forecast of analysts surveyed. The Tempe, Arizona-based ISMs report on services, covering the rest of the economy, is due Jan. 6. That index likely dropped in December to the lowest level since records began in 1997, the survey showed, as Americans cut back during what may have been the worst holiday shopping season in four decades of record keeping. Electronic Arts Inc., the second-biggest video-game publisher, last month boosted planned job cuts to 1,000, or 10 percent of its workforce, and said it will consolidate or close at least nine studio and publishing locations. Labor-market conditions have deteriorated, Federal Reserve policy makers said last month when they cut the benchmark interest-rate target to as low as zero. The central bank also has said it will buy debt as the next step in combating the recession, now in its 13th month. Minutes of the Feds Dec. 16 meeting will be released on Jan. 6. see this vid on the money masters and wake up http://video.google.com/videoplay?docid=-515319560256183936

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Thoroughbreds Don't Cry - Original Trailer 1937

Young Roger Calverton (Ronald Sinclair) and his uncle Sir Peter Calverton (Sir C. Aubrey Smith) bring their prize race-horse The Pookah to America, hoping to win a major purse and save their impoverished family estate. They cross paths with Tim Donahue (Mickey Rooney), one of the top young jockeys in the business, and also with Cricket West (Judy Garland), the niece of Mother Ralph (Sophie Tucker), who runs the boarding house where Donahue resides. Cricket likes to sing every chance she gets, and also has a terrible crush on Tim, but even she can't abide his brash, cocky attitude about himself -- and as a good hostess and also a sensible girl, she also gets just a tiny bit smitten with Roger. He and Tim have a rough first meeting but find that they do sort of like each other, and soon Tim -- who has had a tough, hard-scrabble life -- becomes very close to his new friend from England and to Sir Peter, especially when he finds out how much they love horses and racing. He agrees to ride The Pookah -- but then the young jockey is suckered by his estranged father (Charles D. Brown), a low-life member of a gambling syndicate, into throwing the race. This leads to a tragedy that forces Tim to walk away from his profession and everyone he knows, until Cricket finds him and convinces the boy that what he did wasn't entirely his fault, and that he still has the power to make up for a part of it. Tim steals some of the money he gave his father -- supposedly to save the man's life -- to help Roger get The Pookah into another race, but he still has to overcome the machinations of the mob so he can right the wrong he did to the best friends he's ever had. Judy Garland - Cricket West Mickey Rooney - Tim Donahue Sophie Tucker - Mother Ralph C. Aubrey Smith - Sir Peter Calverton Ronald Sinclair - Roger Calverton Forrester Harvey - Wilkins Charles D. Brown - Click Donahue Frankie Darro - Dink Reid Henry Kolker - Doc Godfrey Francis X. Bushman - Race Steward Elisha Cook, Jr. - Boots Maguire Helen Troy - Hilda

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Added: January 6, 2009

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DISCLAIMER: I do not own Legend of Dragoon or the song Permanent. Those are owned by Sony and David Cook respectively. I made no money and will NOT make any money off this video. It was just for fun! This is a tribute to Lavitz, Dart, and Albert's triangle of friendship. To see the video that inspired this one go to... http://www.youtube.com/watch?v=P8_Kbq8B0pE ARTIST: David Cook Song: Permanent Visual: Legend of Dragoon.

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Added: January 6, 2009

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December auto sales stall
General Motors said Monday that its Canadian sales for December dropped 19.5 per cent from a year ago as the economy sputtered and many auto companies reported weaker sales.
Obama expects speedy passage of U.S. stimulus package
U.S. president-elect Barack Obama said Monday he expects Congress will approve a multibillion-dollar financial stimulus package within two weeks of his taking office.
Spend billions to boost economy: Canadian Centre for Policy Alternatives
Ottawa should spend $32.9 billion, or 2.1 per cent of GDP, in 2009 to stimulate the Canadian economy in 2009, the Canadian Centre for Policy Alternatives suggests. It says the economy would get a three per cent boost and 407,000 jobs would be created.
Caisse boss quits after short tenure
Only five months after he was named to the job, the head of Quebec's Caisse de d?t et placement is quitting.
Mutual funds battered in 2008: Morningstar
Twenty-three of the 24 equity fund indices Morningstar Research tracks posted losses of more than 20 per cent last year, and 20 of them had their worst year in at least a quarter-century, the company said Monday.
Housing starts to drop 16 per cent in '09: builders
Canada's housing market will slip more than 15 per cent in 2009 and set this country on pace to fall further than the ultra-depressed U.S. homes market, according to a new report released by the Canadian Home Builders' Association Monday.
Show us Mackenzie pipeline decision in March: agencies to panel
Two of three agencies that created the panel to review the proposed Mackenzie Valley natural gas pipeline in the N.W.T. are now pushing the panel to release its findings sooner this year.
Bombardier inks $2.1B US deal with German railway
The railcar arm of Bombardier Inc. signed a $2.1-billion US contract with Germany's Deutsche Bahn railway, the Canadian company announced Monday.
Oil price reverses course in trading, ends Monday up $2.47 US
Oil prices ended a turbulent Monday up almost $2.50 US as increased confidence regarding the possibility of more U.S. financial aid added to growing unease about the prospects for a number of oil-producing nations.
4th pipeline bombing in northeastern B.C.
A fourth explosion occurred at an EnCana Corporation natural gas facility in northeastern B.C., just east of Dawson Creek.
A quieter CES may make it easier to be heard
With the economic downturn weighing heavily, big electronics manufacturers may hold off on flashy new product launches at annual Consumer Electronics Show.
OPEC's future blowin' in the wind
For the Organization of Petroleum Exporting Countries, renewable power - not the sludge that comes out of the Alberta oil sands - is the biggest threat to the 48-year-old oil cartel's prosperity in 2009.
Institutional buildings buoy U.S. construction spending in November
Construction on offices, prisons and other non-residential structures kept U.S. construction spending from falling farther than expected in November, according to figures released Monday.
Crystal, china maker Waterford Wedgwood files for bankruptcy protection
Waterford Wedgwood PLC, the maker of classic china and crystal, filed for bankruptcy protection on Monday after attempts to restructure the struggling business or find a buyer failed.
Flaherty hints at tax cuts in upcoming budget
Tax cuts could be included in the upcoming federal budget as one way of stimulating the economy in the face of a global financial crisis, Finance Minister Jim Flaherty said Friday.

Deborah Arnott: How the FSA got financial regulation wrong
Deborah Arnott: We should have taught bankers the same lesson we taught consumers: if it looks too good to be true, it almost certainly is
Property: British second-home owners suffer as French house prices fall
<div><img alt="" src="http://hits.guardian.co.uk/b/ss/guardiangu-feeds/1/H.15.1/41784?ns=guardian&pageName=Money%3A+The+French+correction%3A+Falling+house+prices+sting+expat+owners&ch=Money&c3=guardian.co.uk&c4=Buying+property+abroad%2CHouse+prices+%28Money%29%2CForeign+currency+%28Money%29%2CMoney%2CBusiness%2CHousing+market+%28Business%29%2CProperty&c5=Personal+Finance%2CCredit+Crunch%2CBusiness+Markets%2CProperty+Mortgages+and+Interest+Rates&c6=Peter+Davy&c7=2009_01_06&c8=1142284&c9=article&c10=GU&c11=Money&c12=Buying+property+abroad&c13=&c14=&h2=GU%2FMoney%2FBuying+property+abroad" width="1" height="1" /></div><p>Back in April last year, the IMF warned that after the crash in Spain, French property, along with the UK and Ireland, was "particularly vulnerable" to a fall. But while Britain and Ireland saw steep declines, France seemed to carry on regardless. In the 12 months to July, according to the French National Estate Agents Federation (Fnaim), property prices overall were still up by 1.7%, with the strongest places continuing to report gains.</p><p>For many Brits ? and they are estimated to own more than 75,000 second homes in France ? it has been the only chink of light in the overwhelming property gloom, which has seen prices in the UK <a href="http://www.guardian.co.uk/business/2009/jan/02/halifax-house-prices" title="">fall by as much as 16% </a>.</p><p>However, that has now changed. Sales have dropped off sharply over the past few months, with Fnaim noting in September that "the brutality of the slowdown" had surprised seasoned observers. In December the association's executive director, Henry Buzy-Cazaux, told French radio that agents were faced with a 20%-25% fall in activity since the beginning of the year.</p><p>This has begun to hit prices: the third quarter saw falls of 1.3% and Fnaim expects prices to have finished 2008 around 5% down. Estate agent <a href="http://english.laforet.com/" title="">Laforêt Immobilier</a>, which has 875 offices throughout France, puts the figure at 10%. No one now seriously expects anything but further falls in 2009.</p><p>"I think [the] next year will be very hard," says agent Leo Attias, who heads up Fnaim's Paris office. The problem is credit ? while French banks avoided the sub-prime crisis hitting America and the UK, they are worried about the possibility of rising unemployment. Lending criteria for mortgages ? already strict by UK standards ? have been further tightened by lenders. "They are very reluctant," says Attias.</p><h2>Rural problems</h2><p>Outside Paris and the cities, and particularly in the rural areas favoured by the British, the problems are likely to be even worse. Charles Gillooley is manager of estate agent <a href="http://www.immobilier-causses-vezere.com/english/index.php?page=3" title="">Immobilier Causses et Vézère</a> in Thenon, and president of Fnaim for the Dordogne. His region has the highest density of British people in the country, and if you ask how the market was in 2008 you get a one-word answer: "Hard". Agents are reporting sales down by 50% and prices down a quarter. "France is going the same way as the others," he says, adding that many properties simply won't sell.</p><p>In rural areas the problem is not just the credit crunch but the exchange rate, which has seen the British, who make up as much of a third of the market, pull out. For them, even a 20% drop in prices has not made owning a second property in France any cheaper.</p><p>"There was a gradual decline in transactions since the start of the year, but it has been much steeper since September," says another agent selling in the region, Jerry O'Neil at <a href="http://www.premierfrenchproperty.com/" title="">Premier French Property</a>.</p><p>How much worse it will get is debatable; as O'Neil notes, there sometimes seem to be as many forecasts for property in France as there are economists. In the end, though, it may depend on which part of France you look at. In the cities where there is strong domestic demand, particularly in Paris and Nice, many argue that 2009 will only see modest falls. "It is likely they will drop a little, but we are not anticipating double-digit falls," says Laurence Boone, an economist in the Paris office of Barclays Capital.</p><p>Boone says the French market is very different from those elsewhere in Europe and as such, may not be hit as badly. Yes, prices in many parts of France have boomed in recent years, doubling in the past decade alone. At the end of the third quarter the average house price outside the Paris area was ?196,000 (£183,500). But they have lagged behind both Britain and Spain.</p><p>Furthermore, the banks have stuck to their policy of prudent lending. A typical French mortgage is for 70% of a property's value, has a term of 15 years at a fixed rate, and banks generally insist that repayments account for no more than a third of the borrower's take-home pay. That means there are unlikely to be repossessions on a level being witnessed in the UK. Finally, without the sort of building boom seen in Spain, there is no question of over-supply in the French market.</p><p>Fnaim suggests prices could drop by 10% over the next year. In some places, though, there could still be a fair deal of pain ahead ? much will depend on the fate of the pound.</p><p>Andrew Sutton bought a villa just outside Villeréal in south-west France in June. Like many others, he took out a mortgage in France and has been hit by sterling's slide ? at the start of last year £1 bought ?1.34; by the end of the year it bought just ?1.04. At the moment, he says, this is making life less comfortable, if bearable, for British owners in the area. The real worry, though, is if the situation continues.</p><p>"My major concern is that this trend goes on to see the pound and euro reach parity," says Sutton. "If that happened it could have quite a serious effect here." For now, the French market is still holding out against a crash, but for many British buyers, at least, there is still some way to go before they are out of the woods.</p><h2>Case study: A Brit abroad </h2>Margot Parker from Ealing recently bought a one-bedroom flat in Paris with her boyfriend Jean-Marc Eskdale. She says a temporary fall in its value doesn't really bother her. They wanted a foot on the French housing ladder since they eventually plan to move there, and were not looking to make a quick profit. "We are in it for the long term," Parker explains.</p><p>The exchange rate, on the other hand, has had a more immediate impact. When the couple started negotiations on their flat, the rate was about ?1.4 to the pound. By the time they completed in August it was ?1.31 and has since slid even further. After just a couple of months it is costing them £150 a month extra on the mortgage.</p><p>Fortunately, the payment is still affordable for them: when they were planning the purchase they checked that they would be OK even if the pound and euro reached parity. "We did it on what we thought was the worst-case scenario," laughs Eskdale.</p><div style="float: left; margin-right: 10px; margin-bottom: 10px;"><ul><li><a href="http://www.guardian.co.uk/money/buyingpropertyabroad">Buying property abroad</a></li><li><a href="http://www.guardian.co.uk/money/houseprices">House prices</a></li><li><a href="http://www.guardian.co.uk/money/foreigncurrency">Foreign currency</a></li><li><a href="http://www.guardian.co.uk/business/housingmarket">Housing market</a></li><li><a href="http://www.guardian.co.uk/money/property">Property</a></li></ul></div><div class="guRssAdvert"><a href="http://ads.guardian.co.uk/click.ng/richmedia=yes&site=Money&country=usa&spacedesc=rss&system=rss&transactionID=1231239621299010611061032199"><img src="http://ads.guardian.co.uk/image.ng/richmedia=yes&site=Money&country=usa&spacedesc=rss&system=rss&transactionID=1231239621299010611061032199" border="0" /></a></div><a href="http://www.guardian.co.uk">guardian.co.uk</a> &copy; Guardian News & Media Limited 2009 | Use of this content is subject to our <a href="http://users.guardian.co.uk/help/article/0,,933909,00.html">Terms & Conditions</a> | <a href="http://www.guardian.co.uk/webfeeds/1,,1309488,00.html">More Feeds</a>
UK house prices: a regional breakdown
<div><img alt="" src="http://hits.guardian.co.uk/b/ss/guardiangu-feeds/1/H.15.1/71105?ns=guardian&pageName=Money%3A+UK+house+prices%3A+a+regional+breakdown&ch=Money&c3=guardian.co.uk&c4=House+prices+%28Money%29%2CProperty%2CMoney%2CHousing+market+%28Business%29%2CBusiness%2CUK+news&c5=Personal+Finance%2CCredit+Crunch%2CNot+commercially+useful%2CBusiness+Markets%2CProperty+Mortgages+and+Interest+Rates&c6=Hilary+Osborne&c7=2009_01_06&c8=1142606&c9=article&c10=GU&c11=Money&c12=House+prices&c13=&c14=&h2=GU%2FMoney%2FHouse+prices" width="1" height="1" /></div><h2>England</h2><p>House prices fell by 14.8% in England last year, with the last three months of the year seeing a 4.8% decline. Homeowners in East Anglia saw the biggest fall in the value of their homes, with prices dropping by 16.6% over the year to an average of £153,080.</p><p>London and its surrounding regions also took a hammering as affordability pressures and job losses took their toll. Prices in the capital fell by more than 15%, although Nationwide said the falls had not reached the pace of the early 1990s crash when it recorded an annual fall of 16.7%. London remains the most expensive place to buy a home in England with an average price of £257,963, compared to a country-wide average of £171,924.</p><p>Four out of five of the British cities that saw the largest price falls were in England, with Bristol, Bradford, Northampton and Norwich all recording a 17% drop.</p><p>Asked about the prospects for house prices over the next six months, consumers told Nationwide they expected to see falls across England, with the largest drop - 6.2% - expected in the West Midlands. Nationwide's chief economist, Fionnuala Earley, said: "Consumers' views about the direction of house prices generally seem to concur with other macroeconomic data, although the relative magnitude of changes recorded are a little mixed.</p><p>"Within England, London and the south-east might expect to be affected badly due to the combination of an employment shake-out in the financial sector and stretched affordability relative to other regions."</p><h2>Northern Ireland</h2><p>After two years of massive growth, a correction in Northern Ireland was on the cards in 2008, and it came when prices dropped by a staggering 34.2% over the year, according to Nationwide.</p><p>At the start of the year the average house price in the region was £224,816; by the end of the year it was £147,833. Perhaps unsurprisingly Belfast is top of the list of biggest fallers, recording a 33% drop over the last 12 months. However, houses in the city are still much more expensive than the rest of Northern Ireland - and the UK as a whole - costing an average £203,942.</p><p>Across Northern Ireland the rate of price falls slowed as the year went on, with prices dropping by 7.4% in the last quarter of the year following three quarters of double-digit drops.</p><p>A survey of consumers in Northern Ireland found that while 9% of people expected prices to increase in the next six months, the average expectation was a 6.9% fall in values. Earley said: "Realistically one might expect Northern Ireland to remain the worst affected region in 2009, given the especially severe overshoot of house prices relative to earnings in the province during the boom years."</p><h2>Scotland</h2><p>Of all the UK regions Scotland saw the smallest fall in house prices last year with a decline of 8.1%, according to Nationwide. During the final quarter of the year prices actually rose, albeit it by just 0.1%, making it the only UK region to see a rise in prices last year. The average price of a home in Scotland is now £138,941, compared with £151,178 at the end of 2007.</p><p>Of the three main cities in Scotland, Aberdeen saw the largest annual fall of 11%, closely followed by Glasgow at 10%. In Edinburgh, where prices are highest, values fell by just 6%. For the second quarter running the largest year-on-year fall was in Renfrewshire and Inverclyde where prices were down by 15%.</p><p>Nationwide's consumer survey found Scotland was the most optimistic part of the UK with 11% of people believing prices will increase in the next six months. It was the only part of the UK where fewer than half of those questioned said they expected prices to fall.</p><h2>Wales</h2><p>Across Wales house prices fell by 12.1% in 2008, reducing the average price of a home to £136,174, according to Nationwide. In the last quarter of the year prices dropped by 2.4%, less than the 4.4% fall seen across the UK as a whole. Prices have fallen in every region of Wales, but some have been harder hit than others. In the south-east Nationwide said prices were down by 20% at the end of the year, while in the north and south-west falls were below 10%.</p><p>Despite a 10% decline in prices over the year, Cardiff remains the most expensive place to buy with an average price of £188,089. The cheapest area is south Wales (east) where the average house price has fallen to £141,654.</p><p>Consumers questioned by Nationwide said they expected prices to fall by an average of 6.3% over the next six months. The society said: "A continued fall in prices in Wales seems likely given economic conditions. Business surveys suggest a sharp reduction in the private sector workforce in Wales as output has fallen. However, the larger proportion of public sector employment in Wales is likely to protect it somewhat and help support the housing market relative to other regions."</p><h2>Top city fallers</h2><p>Belfast: prices down 33% on Q4 of 2007 to £203,942</p><p>Bristol: Prices down 17% to £199,587</p><p>Bradford: prices down 17% to £144,881</p><p>Northampton: prices down 17% to £156,425</p><p>Norwich: prices down 17% to £169,898</p><h2>Lowest city fallers</h2><p>Durham: prices down 4% on Q4 of 2007 to £147,188</p><p>Edinburgh: prices down 6% to £241,617</p><p>Leicester: prices down 7% to £154,787</p><p>Birmingham: prices down 9% to £164,939</p><p>Newcastle: prices down 9% to £162,863</p><div style="float: left; margin-right: 10px; margin-bottom: 10px;"><ul><li><a href="http://www.guardian.co.uk/money/houseprices">House prices</a></li><li><a href="http://www.guardian.co.uk/money/property">Property</a></li><li><a href="http://www.guardian.co.uk/business/housingmarket">Housing market</a></li></ul></div><div class="guRssAdvert"><a href="http://ads.guardian.co.uk/click.ng/richmedia=yes&site=Money&country=usa&spacedesc=rss&system=rss&transactionID=1231239621330010611061032199"><img src="http://ads.guardian.co.uk/image.ng/richmedia=yes&site=Money&country=usa&spacedesc=rss&system=rss&transactionID=1231239621330010611061032199" border="0" /></a></div><a href="http://www.guardian.co.uk">guardian.co.uk</a> &copy; Guardian News & Media Limited 2009 | Use of this content is subject to our <a href="http://users.guardian.co.uk/help/article/0,,933909,00.html">Terms & Conditions</a> | <a href="http://www.guardian.co.uk/webfeeds/1,,1309488,00.html">More Feeds</a>
House prices fall by 16% year-on-year
<div><img alt="" src="http://hits.guardian.co.uk/b/ss/guardiangu-feeds/1/H.15.1/95424?ns=guardian&pageName=Money%3A+House+prices+fall+by+16%25+in+2008&ch=Money&c3=guardian.co.uk&c4=House+prices+%28Money%29%2CProperty%2CMoney%2CHousing+market+%28Business%29%2CBusiness%2CUK+news&c5=Personal+Finance%2CCredit+Crunch%2CNot+commercially+useful%2CBusiness+Markets%2CProperty+Mortgages+and+Interest+Rates&c6=Hilary+Osborne&c7=2009_01_06&c8=1142568&c9=article&c10=GU&c11=Money&c12=House+prices&c13=&c14=&h2=GU%2FMoney%2FHouse+prices" width="1" height="1" /></div><p>House prices fell by 15.9% in 2008, Nationwide said today - the biggest annual drop since the society began publishing its index in 1991.</p><p>December saw a 2.5% fall in prices - the second biggest monthly fall of the year after May, when prices were down 2.6%. The drop follows a 0.4% fall in November, which seemed to suggest the rate of decline was easing.</p><p>The snapshot of house prices from the UK's biggest building society showed that by the end of last year the average price of a UK home had fallen by £29,000 to £153,048.</p><p>Nationwide's figures are broadly in line with those <a href="http://www.guardian.co.uk/business/2009/jan/02/halifax-house-prices">published last week by the UK's largest lender, Halifax</a>.</p><p>It reported that prices had dropped by 16.2% over the course of last year, with a 2.2% fall in December alone. Its index put the average price of a home at the close of last year at £159,900 - 20% below its peak in the summer of 2007.</p><p>Nationwide's chief economist, Fionnuala Earley, said 2008 had been a "year of turmoil" in the UK housing market. </p><p>"The disruption in the financial markets worsened throughout 2008 and had larger implications for the real economy than we anticipated a year ago. </p><p>"This time last year we expected the housing market to cool quickly as affordability was poor and economic conditions looked set to weaken, but we did not anticipate the speed of house price falls or the extent of the global and domestic economic slowdown."</p><p>Last month, the society said it would be <a href="http://www.guardian.co.uk/money/2008/dec/19/nationwide-halifax-house-price-predictions">ditching its annual forecast for house prices</a> as a result of the uncertain economic outlook.</p><p>Earley today reiterated that position, saying volatile conditions made it more difficult than usual to estimate what would happen to the market over the coming year.</p><p>"In these unsettled times a forecast subject to frequent change could itself add to greater uncertainty," she said.</p><p>However, she said that tighter lending conditions and the fact that homes remained unaffordable for some people suggested prices would have to fall further before significant numbers of buyers returned to the market. </p><p>"In terms of house price expectations, current sentiment of borrowers and lenders is still fairly low," she said.</p><p>"Until the economy and the labour market stabilise, it is hard to imagine households becoming upbeat about the immediate future for house prices and this will hinder the pace of recovery."</p><h2>Looking ahead</h2><p>Nationwide said prices had fallen in all regions of the UK during 2008, although the rate of decline varied hugely. While Northern Ireland recorded a 34% drop in prices, the Scottish market dropped by just 8%.</p><p>In England the largest fall was in East Anglia, where prices were down by 16.6%, followed by London and the south-east where prices dropped by more than 15%. The smallest drop was in the north of the country, where prices were down 11% year-on-year.</p><p>Howard Archer, chief UK economist at IHS Global Insight, said the figures completed "a dismal year" for the housing market. </p><p>He predicts that prices will fall by a further 15% this year, taking the average to £130,091 on Nationwide's measure, and said the data increased the likelihood of further large interest rate cuts. </p><p>"The ongoing deep problems of the housing market maintains pressure on the Bank of England to deliver another deep interest rate cut on Thursday, although mortgage lenders are likely to be increasingly unwilling to pass on much of any further interest rate cuts," he said.</p><div style="float: left; margin-right: 10px; margin-bottom: 10px;"><ul><li><a href="http://www.guardian.co.uk/money/houseprices">House prices</a></li><li><a href="http://www.guardian.co.uk/money/property">Property</a></li><li><a href="http://www.guardian.co.uk/business/housingmarket">Housing market</a></li></ul></div><div class="guRssAdvert"><a href="http://ads.guardian.co.uk/click.ng/richmedia=yes&site=Money&country=usa&spacedesc=rss&system=rss&transactionID=1231239621361010611061032199"><img src="http://ads.guardian.co.uk/image.ng/richmedia=yes&site=Money&country=usa&spacedesc=rss&system=rss&transactionID=1231239621361010611061032199" border="0" /></a></div><a href="http://www.guardian.co.uk">guardian.co.uk</a> &copy; Guardian News & Media Limited 2009 | Use of this content is subject to our <a href="http://users.guardian.co.uk/help/article/0,,933909,00.html">Terms & Conditions</a> | <a href="http://www.guardian.co.uk/webfeeds/1,,1309488,00.html">More Feeds</a>
Polly Toynbee: It might sound appealing, but this is populist poison
<div><img alt="" src="http://hits.guardian.co.uk/b/ss/guardiangu-feeds/1/H.15.1/62364?ns=guardian&pageName=Comment+is+free%3A+It+might+sound+appealing%2C+but+this+is+populist+poison&ch=Comment+is+free&c3=The+Guardian&c4=David+Cameron%2CConservatives%2CEconomic+policy%2CPolitics%2CEconomics+%28Business%29%2CRecession+%28UK%29%2CCredit+crunch+%28Business%29%2CSaving+money+%28Money%29%2CTax+%28Money%29%2CTax+and+spending%2CMoney%2CBusiness%2CUK+news&c5=Personal+Finance%2CCredit+Crunch%2CBusiness+Markets%2CNot+commercially+useful&c6=Polly+Toynbee&c7=2009_01_06&c8=1142531&c9=article&c10=GU&c11=Comment+is+free&c12=blog&c13=&c14=Comment+is+free&h2=GU%2FComment+is+free%2Fblog%2FComment+is+free" width="1" height="1" /></div><p>The ideological gap just yawned yet wider as David Cameron sprang into the New Year with tigerish ferocity. The longer Labour is in power, he said, the worse it gets - for the economy, national debt, crime, education, welfare dependency, the health service and family breakdown; all worse, worse, worse. Broken Britain needs an election now when "change is going to come". But president-elect Barack Obama, Cameron is certainly not. As the new president plans a trillion-dollar Keynesian stimulus in the United States economy, Cameron retreats into Thatcher's 1980s. Every time he speaks, he climbs deeper into the recesses of her handbag economics, preaching thrift and a bonfire of public spending.</p><p>He is right that this year things can only get much worse: every economic commentator says so. Any government seeking re-election after a year like 2009 with three million unemployed and gaping black holes in high street shopfronts can expect an uphill struggle. On the face of it, Cameron should walk it with constant finger-pointing - who was at the wheel when the economy crashed? Revenge is a strong voting motive. Superficially, he has all the best lines. The question is whether his phoney economics fool enough of the people enough of the time. </p><p>Yesterday's speech extolled the moral case for saving and thrift, "where government and citizens live within their means, save for a rainy day, waste not, want not". How well that chimes with the current mood, in which the worried rein in spending and even the comfortable indulge in frugality chic. It chimes with the bishops' call for less shopping and more praying. It chimes with commonsense instinct: in hard times pull in your horns, don't borrow, don't spend; hide under the duvet until it's all over. So when Cameron ratchets up the rhetoric by calling the VAT cut "an absolutely criminal waste of public money", plenty of voters will nod in agreement. Labour's &pound;12.5bn cash splurge did feel odd. When Cameron claims: "We are in this mess because of too much government debt", it sounds plausible. When he offers &pound;5bn in tax cuts for penny-wise savers by taking money out of current spending to salt away in savings accounts, that too may seem like prudent policy. All this goes with the grain of human instinct - and Labour has yet to find resonant language to challenge it.</p><p>Cameron's plan for retrenchment is economically illiterate, and would be frighteningly dangerous if he were in power. But it's hard to explain why thrift is not the answer in a punchy political message. Keynesianism is counter-intuitive: he wrote himself about the problem of the "thrift paradox" - persuading people and governments to spend, lend and invest at a time when every fibre of their being urges slamming on the brakes. But let's examine why the Cameron prescription is part populism, part poison and part snake-oil: since he's not stupid, presumably he knows it. </p><p>Take his plan for a loan guarantee to let banks lend again with the state as guarantor. It sounds good - indeed, the government has already said it will do the same, responding to the Crosby report. Cameron's deceit, in his eagerness to cut borrowing, is to pretend he can do it cost-free by raising interest rates enough to cover any losses from failed loans. Nonsense, say those working on the scheme. To make it self-financing, he would have to raise the loan interest rates to many times their present rate, and no one would want them. Guaranteeing loans, some of which would fail, costs some &pound;2bn - but in Cameron's fantasy economics he pretends he can both fix this crisis and cut spending.</p><p>Take his key claim that Britain's debt "puts us in a much weaker position than other countries". Is that true? Ask the independent Institute for Fiscal Studies - by no means always a friend of Gordon Brown's previous economic policies - and here's their verdict: of the G7 richest nations, only Canada has a lower stock of debt than the UK. The US, France, Germany, Japan and Italy have even higher debts than the sizeable 57% of gross domestic product Labour now plans. Compared with all the leading economies, the UK is still only in the middle of the debt table. So yes, we can well afford to borrow more to avoid the worst of this year's cataclysm - and that is the right thing to do. What of Cameron's plan? To make a sudden &pound;5bn cut in spending this April is an anti-stimulus at a time when money needs to be spent. The Institute for Fiscal Studies warns that the only way to cut quickly is to axe whatever is easiest with random destruction, without rational planning. </p><p>Was the VAT cut "a criminal waste"? The IFS says it was the best way to get money out there fast. What of Cameron's plan to encourage saving with tax cuts? Not a bad idea, but absolutely not in the depth of recession. For years the IFS has criticised Brown for adding to national debt by failing to raise enough tax to cover his higher spending in the good years. Now, the IFS's Carl Emmerson says: "But even if he had, that slight cushion would no way have insulated us from this crisis." </p><p>Cameron's proposed cuts in public services would be disastrous in a year like this. He would ring-fence only NHS, schools and defence spending, while from April he would cut planned spending on everything else. But how could he cut Department for Work and Pensions funds as unemployment claimants soar? Why cut the big rise in apprenticeships, just as the young are leaving school to sign on? How do you create jobs if all infrastructure is cut back? (His high-speed rail would take years to set up - and it needs state funds.) During the last Tory government, average capital spending was just 0.6% - while Labour has spent more than 2%, the price of repairing 20 years of public squalor. Labour's plan to bring forward &pound;10bn of capital spending to create 100,000 jobs is a vital necessity.</p><p>Labour relies on real economics winning over the plausible lie in the long run. After all, the Confederation of British Industry, the International Monetary Fund and Organisation for Economic Co-operation and Development all urge Keynesian policies, with Barack Obama leading the way. Labour's serious problem is that no one will ever be able to prove whether what they did worked: if the recession is less deep, were these debts really necessary? Economists will argue for years, but nobody will ever know how much worse things might have been, had Cameron been in power.</p><p><a href="mailto:polly.toynbee@guardian.co.uk">polly.toynbee@guardian.co.uk</a></p><div style="float: left; margin-right: 10px; margin-bottom: 10px;"><ul><li><a href="http://www.guardian.co.uk/politics/davidcameron">David Cameron</a></li><li><a href="http://www.guardian.co.uk/politics/conservatives">Conservatives</a></li><li><a href="http://www.guardian.co.uk/politics/economy">Economic policy</a></li><li><a href="http://www.guardian.co.uk/business/economics">Economics</a></li><li><a href="http://www.guardian.co.uk/business/recession">Recession</a></li><li><a href="http://www.guardian.co.uk/business/creditcrunch">Credit crunch</a></li><li><a href="http://www.guardian.co.uk/money/saving-money">Saving money</a></li><li><a href="http://www.guardian.co.uk/money/tax">Tax</a></li><li><a href="http://www.guardian.co.uk/politics/taxandspending">Tax and spending</a></li></ul></div><div class="guRssAdvert"><a href="http://ads.guardian.co.uk/click.ng/richmedia=yes&site=Commentisfree&country=usa&spacedesc=rss&system=rss&transactionID=1231239621463010611061032199"><img src="http://ads.guardian.co.uk/image.ng/richmedia=yes&site=Commentisfree&country=usa&spacedesc=rss&system=rss&transactionID=1231239621463010611061032199" border="0" /></a></div><a href="http://www.guardian.co.uk">guardian.co.uk</a> &copy; Guardian News & Media Limited 2009 | Use of this content is subject to our <a href="http://users.guardian.co.uk/help/article/0,,933909,00.html">Terms & Conditions</a> | <a href="http://www.guardian.co.uk/webfeeds/1,,1309488,00.html">More Feeds</a>
Cameron offers savings tax cut plus clamp on public spending
<div><img alt="" src="http://hits.guardian.co.uk/b/ss/guardiangu-feeds/1/H.15.1/82024?ns=guardian&pageName=Politics%3A+Cameron+offers+savings+tax+cut+plus+clamp+on+public+spending&ch=Politics&c3=The+Guardian&c4=David+Cameron%2CConservatives%2CEconomic+policy%2CGordon+Brown%2CTax+and+spending%2CPolitics%2CCredit+crunch+%28Business%29%2CSmall+business+%28Business%29%2CBanking+%28Business%29%2CRecession+%28UK%29%2CBusiness%2CBanks+and+building+societies%2CSavings+%28Money%29%2CIncome+tax%2CTax+%28Money%29%2CMoney%2CUK+news%2CPublic+services+policy+%28Society%29%2CPublic+finance+%28Society%29%2CSociety&c5=Society+Weekly%2CUnclassified%2CPersonal+Finance%2CInvestments%2CCredit+Crunch%2CPolicy+Society%2CBusiness+Markets%2CNot+commercially+useful&c6=Patrick+Wintour&c7=2009_01_06&c8=1142525&c9=article&c10=GU&c11=Politics&c12=David+Cameron&c13=&c14=&h2=GU%2FPolitics%2FDavid+Cameron" width="1" height="1" /></div><p> David Cameron took the side of savers hit by tumbling interest rates yesterday and promised to abolish tax on the savings income of all basic-rate taxpayers. He also promised to lift personal allowances for pensioners by &pound;2,000 a year. </p><p>Pounded by L