What do you see in your housing market this weekend? Price reductions? "In Somerville, just outside of Boston, a condominium developer trying to sell the last of 18 units slashed prices, dropping the price for the three-bedroom condo to $599,000, nearly 17 percent below what a comparable unit sold for three years in the same project."

"In downtown Boston, the developer of a 14-story condo project held an auction. Bidders snapped up 31 luxury units at an average price of $778,000, about 20 percent below the average asking price before the auction."

"The head of the firm that ran the event expects the market slump will lead to more such sales in Boston and elsewhere. 'You've had some exuberance, you've had some overbuilding, and you've had some price declines, and people are going to need to move product quickly,' said Jon Gollinger of Velocity Marketing."

The Naperville Sun from Illinois. "This October, home sales in Naperville fell 28 percent, according to the Realtor Association of West/South Suburban Chicagoland. Year-to-date home sales experienced a 21 percent drop."

"(Realtor) Chris Read said that the cooling housing market has hit Naperville homes priced over $800,000 the hardest, leaving a large inventory and increased competition to attract buyers. She said the sales are made when sellers drop their prices. 'Sellers are being more realistic,' Read said."

From WLBT in Mississippi. "New homes are springing up daily in the metro- area. Each city has building codes. Official says things went awry in one Madison neighborhood, leaving several high-priced houses on the block. The City of Madison is dealing with mortgage fraud, foreclosures, and homes abandoned by builders in upscale neighborhoods."

"One city inspector says some builders often change plans, cutting corners putting in less expensive doors and windows than original blueprints specified. We found something a little out of the ordinary. Construction been shut down on 11 house in Woods Crossing subdivision of Madison."

The World Link from Oregon. "John W. Mitchell, an economist with U S Bancorp, dismissed talk of an impending recession at the national and state levels. He did concede 2007 would probably see slower economic growth as a result of a weakening real estate market."

"'People are borrowing against their house, which means, with housing prices going down, presumably it will have an impact on consumer spending,' he said."