What do you see in your local housing market this weekend? Builder troubles? "Nearly 70 construction or related businesses in Northwest Arkansas filed for bankruptcy protection during the year, according to U. S. Bankruptcy Court filings. Springdale-based custom home builder Tim McMahon filed for Chapter 7 bankruptcy protection Friday, citing between $ 1 million and $ 10 million owed to 279 creditors."

"'More [builder bankruptcies ] are expected. More will come down the path,' said Kathy Deck, director of the Center for Business and Economic Research at the Sam M. Walton College of Business. 'The longer the market goes sideways... it remains difficult for some people to remain solvent.'"

"The company builds mainly in Fayetteville, Springdale, Rogers and the surrounding area. The cost of homes by McMahon Brothers Custom Homes is between $ 250, 000 and $ 1 million, the Web site said."

A related slowdown? "In a housing market flooded with inventory, it is no fun to be a home seller. On the flip side, if you are looking to buy, build or renovate, the cards are in your favor. The housing slump has pushed down prices on many building supplies and labor."

"'There have been circumstances where I've been underbid by what I think are kind of ridiculous amounts by people who are not as experienced with remodeling aspects,' said Dave Gridley, owner of a remodeling business based in Rockford."

"The home improvement business is finally catching the housing virus. Remodeling and repair actually received a boost in the early phases of the housing slump as many owners opted to upgrade their current digs rather than sell and move in a softening market. Still others fixed up their second homes and investment properties to make them more attractive to prospective renters."

"But the stimulus from both trends has now faded. Making matters worse, a typical source of cash for remodeling -- home equity lines of credit -- is drying up. Banks are getting pickier about making such loans."

"David Seiders, chief economist with the National Association of Home Builders, says, 'Remodeling is not countercyclical. We're starting to see a setback.'"

"What the market really needs are homes that are appreciating in value. Kermit Baker, director of the Remodeling Futures Program of the Joint Center for Housing Studies at Harvard University, notes, 'Nothing indicates that there will be a quick turnaround' in that department."

Or economic fallout? "As housing continues a meltdown, consumer goods cost more and unemployment rises, those who make a living cooking and serving others say they're feeling the impact."

"Observers noted that real estate's downturn as well as higher food and fuel prices have negative effects on everyone's bottom line. In downtown Modesto, Harvest Moon owner Mark Smallwood said his restaurant still is seeing sales growth, but not as much as in other years."

"'We're not seeing the mortgage brokers and the real estate representatives,' Smallwood said.'