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The "deadweight loss" of sweaters never worn and books never read equates to about 18 percent of Christmas spending — a staggering $12 billion. Present buying may boost the economy, but ...

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That would see the average price rising from around £117,000 now to £128,000 by the end of next year, then falling to £102,000 by Christmas 2006. Such a shift would push thousands of new and ...