What do you see in your housing market this weekend? An auction? "The auctioning of a large condo conversion project in Baltimore County drew a crowd of gawkers yesterday but only one bid, from the foreclosing lender. It is one of at least three local projects owned by Triton Real Estate Partners that have been or are scheduled to be auctioned."

"Auctioneer Daniel Billig, standing on the steps of one of the renovated Colonial-style buildings, practically pleaded for more bids. 'You can give me one-million-500-thousand,' Billig said through a loudspeaker. 'You won't insult me.'"

"Tim Dobson, whose family rents an apartment there, mused about the conversion plans, and about how hindsight is always 20-20. A sign at the complex promised that a pool and clubhouse were 'Coming Soon!' but everything is up in the air now, he said. 'I feel sorry for the guys that bought the condos,' he said."

Slowing sales? "According to statistics from the New York State Association of Realtors, 35 single-family homes were sold in Cayuga County in March, down from 56 reported during the same month a year earlier."

"'It's the slowest its been in five years,' said associate broker David Young, who's been in real estate for five years. Young sells property in four counties, Cayuga, Onondaga, Seneca and Wayne, and said Cayuga has been stagnant this year."

"'Auburn was on fire this time last year,' he said."

Some statistics? "The ratio between house prices and rental rates in several of China's leading cities has soared well above levels that often indicate a property bubble, the Xinhua agency said on Saturday."

"An increase in house prices not matched by a rising rental market can signal an unsustainable price spiral, the researcher said. 'The international warning line is 1-to-200. Once the ratio goes over the line, the market is in danger of a bubble,' the report quoted Shan Jingjing saying."

"In the downtown areas of the four cities Xinhua listed, however, the ratio had already reached between 1-to-270 and 1-to-400, the report added."

A fire sale? "A hedge fund made a $58-million winning bid for the remaining mortgage portfolio of bankrupt sub-prime lender New Century Financial, the fund and New Century creditors said Friday."

"Ellington Management Group's bid amounted to only 34 cents on the dollar. The portfolio includes home loans and mortgage securities with a face value of $170 million."

"Many of the loans are in default, and 'some are probably worth nothing,' said Larry Penn, vice chairman of Ellington."