UK house prices goes reverse - 2004-01-12
UK house prices have dropped, according to official figures, contradicting recent surveys by huge mortgage lenders.

"The run-up to Christmas is traditionally a quiet time but this result along with a fall in new mortgage approvals could indicate a weakening market."

"However, it is too early to say for definite that a house price correction is under way," Mr Stansfield said.
Read the full story at BBC

Consumer spending outlook stays healthy - 2004-01-12
Consumers will not decrease spending as interest rates rise and the mortgage refinance boom runs out of steam, according to a report due out Monday. That conclusion counters fears that the most important part of the economy, consumer spending, will soon abate.

Consumer spending has held up through the economic downturn that began in 2001 and is largely credited with keeping the economy moving in the last three years.
Read the full story at USA Today