What do you see in your local housing market this weekend? Auctions? "In another jolt to the downtown real estate market, a newly built, upscale condo complex on Boston’s waterfront is being foreclosed on by its lenders. The 11-story Harborview complex in the Charlestown Navy Yard is slated to be sold at auction Nov. 8, a move that comes after the upscale project opened with a thud this summer."

"Amid a sluggish real estate market, the project ultimately failed to sell any units, prompting the development team to explore its options."

"In the largest sell-off of its kind in Minnesota, more than 300 foreclosed homes across the state will go on the auction block this weekend. Minnesota Association of Realtors vice president Chris Galler said it's the biggest auction he's seen in his two decades in the business. Auctions normally dispose of a half-dozen to a dozen homes."

"'It's a sign of the times,' Galler said."

An editorial? "The real estate bust may not have hit New York yet, but over the past two years more than 15,000 city residents have faced foreclosure actions that could throw them out of their homes. And this year, more than 14,000 more families are at risk, according to the Neighborhood Economic Development Advocacy Project."

Odd purchasing rationals? "Condominiums, townhouses and hotel-condos have been sprouting up around Notre Dame, collectively feeding an investment of more than $200 million to the South Bend community, according to the South Bend Tribune. But a dismal football season and a stagnant housing market have caused some developers to scale back their plans around Notre Dame."

"'When we beat Penn State [in September of 2006], the very next day we sold 11 units,' said ike Brenan, Waterford's general manager and developer. 'The following week in '06 was the Michigan game, we lost it. The following Sunday we had 10 appointments … and not one of them showed up. To say that our ownership base is fickle would be an understatement.'"

See overbuilding? "The demand for Murfreesboro builders seeking housing permits declined by 34.1 percent through September compared to the same period last year, according to city records. Although 990 houses or condos have been built or are still being constructed in this fast-growing city in 2007, the trend still concerns housing industry professionals."

"'The market is flooded,' County Building Codes Director David H. Jones said."

Or speculation? "Between 2003 and 2005, it couldn't have been easier to sell real estate in Brunswick County, NC. Residents put signs in front of their property, and buyers, eager to have a place near the coast or looking to flip property for a quick profit, didn't hesitate to snatch it up."

"'It started picking up in the early 2000s,' said Alan Holden, president of the Brunswick County Association of Realtors."

"The county saw the most sales in late 2003 and early 2004, and the boom continued through the first part of the following year. 'Values escalated. It was a no-brainer that this was where to be,' Holden said."

More foreclosures? "Foreclosure filings and homes sold at sheriff's sales are spiking in Northampton County. The number of properties in default, scheduled for a sheriff's sale or repossessed by the bank more than doubled in Northampton County to 174 homes through the end of September, compared with last year."

"'I think this story has not even started to play out,' said Bethlehem economist Kamran Afshar. 'In other words, it is going to get worse before it gets better.'"

"'Over the last three months, we have seen a 50 percent increase in the number of filings per week,' said Jack Gross in Bethlehem, whose firm sells homes after banks or municipalities have repossessed the properties."

Changes in employment? "The global credit crunch has had a knock-on effect in Norfolk, with a Wymondham company yesterday announcing redundancies in the wake of the collapse of the subprime mortgage market."

"Neil McLennan, operations manager at Direct Mortgage Answers, said redundancies had to be made to maintain the company's strength. 'Direct Mortgage Answers packages subprime mortgages from brokers throughout the UK. However, down to the problems in the subprime market and products being modified by lenders, the supply of such products has been restricted.'"

Or financial news? "Standard & Poor's lowered ratings on about $22 billion of securities backed by first-lien subprime home loans because of rising delinquencies. The cut covers 1,413 classes of bonds from the fourth quarter of 2005 through the fourth quarter of 2006, the New York-based ratings company said today in a statement."

"S&P two days ago lowered ratings on $23.4 billion of subprime and Alternative-A securities that were created as recently as June, its swiftest downgrade of mortgage bonds."

Results of a poll? "Nearly one in four U.S. homeowners expect home prices to fall further in the coming year, as the protracted housing slowdown weighs on consumers' outlook, according to a poll released on Friday."

"'There is no evidence that the deepening slump in home prices would end anytime soon,' said Richard Curtin, director of the Reuters/University of Michigan Surveys of Consumers."

"Among homeowners polled in October, 29 percent reported their home value fell during the past year, a record high, compared with 26 percent in September."

Falling prices? "No matter how you're trying to sell a home in South Florida, it's definitely taking longer to do it. There are approximately 115,000 units currently up for sale and prices are dropping 'like a rock.'"

"Real estate experts say the sales prices are declining on average $40,000 in the last year."