What do you see in your housing market this weekend? Changes in local government? "Even at the height of excess revenues from the county’s deeds tax, county officials knew the cash cow wouldn’t graze in Barnstable’s fields forever. Revenue solely from the Registry of Deeds Tax is anticipated by the county to fall $1.17 million lower than in fiscal year ’07."

"'For the first time in a long time, there’s actually a housing market $350,000 and under,' said Mark Zelinski, county administrator and director of finances."

"In addition to the lower prices, he said, the Cape’s higher-level housing market, above $1 million, has stagnated, resulting in dramatically reduced deeds tax revenue. 'Revenue-wise … we’ll be under,' he said."

Home sales statistics? "New housing starts, a bright spot in the county's economy for several years, collapsed in 2006, sinking to the lowest level in 14 years, according to statistics collected by The Flint Journal from area cities and townships."

"The average selling price dropped 16 percent compared to the previous year, said Doris Nurenberg, executive director of the Flint Area Association of Realtors."

"There are too many never-lived-in houses on the market right now to expect a rebound in 2007, said Ted Macksey, whose family has been building homes in the area since the 1950s. 'I think it's a function of the economy. Once we hit June 2005, things just stopped,' he said."

Or overbuilding. "At the end of 2006, almost 875 new houses were finished and vacant or under construction in several Dallas and Park Cities neighborhoods, according to a survey. Demand for these high-end homes, often referred to as McMansions, has caused a flurry of teardowns in several close-in residential districts."

"But while there are lots of unsold homes on the market, some builders may decide to go ahead with more starts, said said Jeff Dworkin, who builds homes ranging from $375,000 to over $450,000 in East Dallas neighborhoods."

"'The market has gotten the message in some places,' he said 'But there are some smaller builders out there who have no choice, because they already own the lots and have the loans in place.'"

An increase in foreclosures? "The number of properties repossessed by banks was higher last year than after the recession of the early 1990s, as a growing number of overstretched investors were burned by Sydney's house-price slump."

"Young investors defaulting on home loans was one factor behind a surge in legal action against borrowers last year, a court spokesman said."

Changes at local banks? "Metropolitan Savings was closed today by the Pennsylvania Department of Banking, and the FDIC was named receiver. Metropolitan Savings is the first FDIC-insured institution failure in the country since June 25, 2004."

"The failed bank's sole office will reopen Monday as a branch of Allegheny Valley. Deposit customers of Metropolitan Savings will automatically become depositors of the assuming bank. All depositors will continue to have immediate access to their insured funds. Customers with more than the insurance limit on deposit at the failed bank should contact the FDIC."