The Herald Tribune reports from Florida. "Another Southwest Florida home builder has exited, leaving dozens of customers with unfinished homes and regulators dealing with a third-party contractor who qualified the company's permits. Sarasota-based Avalon Homes left its offices unfurnished, unlocked and deserted several weeks ago, its former landlord says."

"Meanwhile, the small builder has 56 open permits with the city of North Port and officials there have been in touch with Venice-based contractor James Leake, who qualified the Avalon homes for permits, to try to get the houses finished."

"The city has been going to Leake on the issues associated with Avalon's permits, said Bud Korte, plans division manager for the city of North Port. 'We have to hold the license holder responsible,' he said. But Leake said he has been as unsuccessful as Avalon's customers at reaching Pufta: 'All the phone numbers I had for him were disconnected.'"

"'I'm truly stupid,' Leake said. 'I am being held responsible for decisions I did not make.'"

"Joe Powell was one of Avalon's customers. He bought a North Port lot in September 2004, put $16,700 down on the $167,000 house and has since watched his home languish. Powell considers himself 'one of the lucky.' There are 50 to 60 other buyers who might not be so far along in extricating themselves from Avalon, he said."

"The company's travails could become something more commonplace as 2007 dawns and small players throughout Southwest Florida struggle with a customer base that has evaporated along with the booming real estate market of 2004-05."

"Several homeowners have filed lawsuits against Avalon Homes. Avalon was one of five proposed home builders in Michael Tringali's troubled Steeplechase Estates subdivision near Myakka City, recently bought in lieu of foreclosure for $27.2 million by Fort Lauderdale's BankAtlantic Bancorp.'

The Palm Beach Post. "The housing downturn hit home in starkly human terms Monday when DiVosta Building Corp. said it will lay off nearly half its local workers. 'We're trying to match our workforce to the construction pace,' said Beth Cocchiarella, spokeswoman for DiVosta parent Pulte Homes."

"In addition to the cuts here, DiVosta laid off 135 workers in Sarasota last month. Industry experts say DiVosta and Pulte are far from the only home builders to cut workers as construction slows. Lennar, Toll Brothers and Centex also have laid off employees, they say, as have smaller companies such as Sunland Homes of Jupiter, which this year cut 20 of its 45 workers."

"'All of the major builders are in the process of very large layoffs,' Jeff Spear, president of the Gold Coast Builders Association said."

"'They want to bring the production of homes back in line with true demand,' said Bradley Hunter, a housing analyst at Metrostudy in Boca Raton. 'Builders were building at a pace that was matching an artificial demand.'"

"Home prices have fallen from their peak in late 2005, and sales volumes have plunged. Builders started construction of 1,017 homes in Palm Beach County in the third quarter of this year, only half the pace of the July-September period in 2005, Metrostudy said."

"The DiVosta layoffs contradict a commonly held piece of workplace wisdom: that construction workers are in such short supply in Florida that job security is not a concern."

From NBC 2. "Thousands of homeowners are losing their property because they can't afford the mortgage payment. The number of foreclosures is up by almost 1000 in Lee County and the year isn't over yet. Realtors point out they saw it coming, the market has done a 180 over the past year."

"Patricia Francioni has three homes for sale. That's not easy in a buyer's market. They aren't investment homes, she and her son have lived in them. Now she wants to sell them all. 'It's killing us, can't sell anything,' said Francioni."

"With taxes and insurance on three homes, she's over-extending her budget. 'Three times what my husband makes, I paid out this year in taxes, real estate taxes,' said Francioni."

"This year alone, almost 2200 homes were forced into foreclosure in Lee County. In 2005, just under 1,300 homes went into foreclosure."

"Realtors say the housing market has changed. 'Now it's leveling off, and all of these people are stuck with these properties. They can't afford the taxes, they can't afford the insurance, they're upside down,' said (realtor) Dawn Gallet."

"'This is something that would have sold right away a year ago, now you're just holding on, hoping somebody will give you an offer,' said Francioni."

"Real estate agents say more foreclosures mean a chance at a great deal. Until the market changes, they say only people buying homes for long-term should invest. The days of flipping are over."