The £500m Bay Pointe development will be 403ft (122.8m) and consist of 10 residential buildings with 1,800 flats.One of the towers will provide 360-degree views of Cardiff and beyond.

via news.bbc.co.uk

Updated figures from the US Department of Commerce showed the economy grew at an annual rate of just 0.6% in the quarter, as predicted last month.The data follows a quarter of brisk growth, as between July and September the US grew at an annual pace of 4.9%.

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It blamed rising home loan defaults and set aside $2bn to cover further bad loans, warning the US housing slump could still get worse.The quarterly loss cut into full-year earnings and the firm reported a loss for 2007 of $2.05bn, compared with a profit of $4bn for the year before.

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The London auction house claimed the total set a record for contemporary art auctions in Europe.Bacon's 1969 Study of Nude With Figure In A Mirror was sold to a European private collector for nearly £20m.

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A large, three-story house on the market for $725,000 was left uninhabitable after a fire early Wednesday in west suburban Lisle. Nobody was injured.

via nbc5.com

Writedowns on investments hit by the crisis in the US sub-prime mortgage market rose to £2.5bn from an original forecast of £1.25bn.The bank said group operating profit, including the recently-purchased ABN Amro, was up 9% to £10.3bn ($20.4bn).

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Prices rose by 0.9% in January, taking the average property price to £186,045.However, the annual rate of increase continued to slow, to 6.4% in January from 6.7% in December, the fifth such fall in a row.

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West Yorkshire, South Yorkshire along with Hull and east Yorkshire are to be given the cash from the government's Housing Market Renewal programme.The "pathfinder" programme aims to boost local housing, encourage firms into the areas and improve communities.

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USEFUL INFO Avoid blind loyalty. Paint manufacturers are constantly changing their formulas.

via mcall.com

The first serious sign of trouble came last week when House Democrats switched a property-tax cap months in the making with a plan that had not previously been aired, studied or evaluated by fiscal experts.

via thestarpress.com

There is an "insatiable demand" for rented property in London from residents in the £20,000 to £50,000 wage bracket, the group says.It wants incentives for large companies to enter the residential rental market and build-up a recognised brands.

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He said tax measures, which are due to start in May, were designed to get consumers shopping again.But Federal Reserve chairman Ben Bernanke, said keeping the economy growing was becoming more difficult.

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The bank reporting season is drawing to a close. Royal Bank of Scotland today and HSBC next week complete the narrative.

via theherald.co.uk

Treasury Secretary Henry Paulson said Thursday that many proposals being put forward to deal with the housing slump would do more harm than good.

via townhall.com

Public documents show Michael Jackson has repeatedly failed to make mortgage payments on a Los Angeles home that has been used for years by his family.

via kansas.com