North Port builders see grim future [South Florida]
Because of the dramatic downturn in the real estate market, home builders are now replacing scrub jays as the most endangered species in this once rapidly growing city.
Ignoring the laws of supply and demand, those builders churned out far more homes than were needed during the boom, and are now sitting on a voluminous supply that is becoming increasingly difficult to unload.
More than a dozen builders have either retreated from the market, shut down or are being hauled into court by subcontractors, vendors and home buyers for failing to complete construction or pay their bills.
For those home builders and subcontractors who continue to soldier on, the future does not look bright.