What do you see in your housing market this weekend? Price cuts? "James Matey, a Cape Coral builder, leans on the granite counter of an empty riverfront house he built for New York real-estate marketer Ted Kurz. Mr. Matey says the 5,139-square-foot house, with five bedrooms, wood-coffered ceilings and river views, was advertised at $4.2 million three years ago. The asking price is now $2.4 million -- which covers only the cost of land and construction."

"'At this point, we're just dumping it,' Mr.Matey says."

"Mr. Kurz says he'd like to hold on to the house for a few years until the market turns, but that would cost him more than $200,000 in interest, taxes and other expenses -- money he doesn't have now that the market has collapsed. 'I'll entertain any offer,' he says."

Or foreclosures? "Suffolk and Nassau counties accounted for 33 percent of subprime loans that were made in 2006 in New York State and that are now in foreclosure, according to a report. At the same time, Long Island has 30 percent of all subprime loans scheduled to be reset before October 2009, according to the study of subprime loans given out in 2006."

"'When you drove around two or three years ago, on every corner there was a new mortgage broker or a new mortgage banker,' said Adrian Fassett, chief executive of the Economic Opportunity Council of Suffolk."

"While Alaskans aren't seeing the number of failed loans as some places in the Lower 48, plenty of people in the Matanuska-Susitna Borough are feeling the pain of bad home-buying decisions."

"The number of people seeking foreclosure counseling -- mostly linked to subprime loans -- at the Anchorage office of the Consumer Credit Counseling Service of Alaska rose sharply in recent months. 'The Valley is one area in the state where foreclosures are definitely increasing,' said Wendy Romberg, for the nonprofit credit counseling service."

Housing fallout? " A nationwide slump in new home construction has hit one of Ashe County's largest employers, Leviton Manufacturing Company, and prompted the closing of one of its three local manufacturing plants, according to company officials."

"'I think this is going to be a very severe housing downturn that's going to last well into next year,' said Lou Lovelace, the company's general manager of North Carolina operations. 'We had been clearing out that plant to develop and implement a new wall plate line, and it just became apparent that this is not the time to be making multi-million-dollar investments the way the housing market is right now. So we decided to just indefinitely suspend that project.'"

Legal charges? "Mark Strodtman, a Greeley developer who owns close to 400 acres in Mesa County, was indicted Tuesday on 23 felonies, including racketeering, a Class 2 felony."

"A Weld County grand jury indicted Strodtman and two others who were involved with him in a mortgage fraud scheme that left many Greeley area families in foreclosure, reduced property values of neighboring homes and defrauded lenders, according to the Weld County District Attorney's Office."

Slower sales? "Sales of Central Texas homes dropped for the eighth consecutive month in February, and a bigger slowdown could be ahead. Pending sales plunged 49 percent, the greatest decrease on record, according to the Austin Board of Realtors."

"'It's plateaued,' said Mark Sprague, Austin partner of Residential Strategies. 'But all that said, it's going to be the third best year in new-home starts and probably the third best year in resales. It's not as good as it was two years ago, but it's better than it was five years ago.'"

Knife catchers? "During the housing boom, investors flocked to metro Phoenix and climbed onto buses that took them to the Valley's fringes. Now, the bus tours to those edge suburbs are starting again. But this time, home buyers are looking for foreclosure properties they can flip for a fast profit."

"Last month, 2,500 homes in metro Phoenix were foreclosed on, the highest monthly tally since the real-estate recession of 1990. One bidder at the auction, Saul Grotstein of Los Angeles, said there was more competition for the properties than he expected."

"'We aren't done buying in Phoenix,' said Grotstein, who was heading to Florida for another foreclosure auction."

"'Last time around, it was the amateurs who believed the infomercials and used all the home equity in their own homes to buy rental properties,' said Jay Butler, at Arizona State University Polytechnic. 'Now, many of those houses are in foreclosure and selling to a similar group of investors.'"

"Diane Drain, a Phoenix bankruptcy and foreclosure attorney, said she is working with two to three investors a day who are going to lose homes to foreclosure because lenders won't negotiate with them."

"'If it's money you would take to Vegas and drop on a table, then invest it in foreclosure properties,' said Drain. 'But if it's your retirement account or home equity, don't touch it. I am seeing too many people now who are losing everything because they invested in homes they thought they could flip for a profit.'"