The positive-feedback nature of Hebbian plasticity can destabilize the prop
erties of neuronal networks. Recent work has demonstrated that this destabi
lizing influence is counteracted by a number of homeostatic plasticity mech
anisms that stabilize neuronal activity. Such mechanisms include global cha
nges in synaptic strengths, changes in neuronal excitability, and the regul
ation of synapse number. These recent studies suggest that Hebbian and home
ostatic plasticity often target the same molecular substrates, and have opp
osing effects on synaptic or neuronal properties. These advances significan
tly broaden our framework for understanding the effects of activity on syna
ptic function and neuronal excitability.