The Las Vegas Valley used to see neighborhoods of new homes pop up almost overnight. The recession has stopped that trend and that halt has been dramatic. In 2005, 40,000 new homes were sold in January, compared to just 284 sold this year.

The unbelievable drop has devastated home builders, some of which are locally owned and operated.

Astoria Homes' newest development near Eastern and Horizon Ridge is where they plan to make their comeback once the market is viable again. But for now, construction is on hold and the company is in hibernation.

Tom McCormick is President of Astoria Homes. After 15 years of building success, he's decided to stop building new homes for the foreseeable future.

Astoria has five different developments and a few years ago they were riding the boom like everyone else. Then things turned, “At the end of 2005 we could feel it, because all of a sudden, all of the lines for people to purchase homes all went away and by the beginning of early '06, we saw prices beginning to fall.”

Things only continued down from there and eventually 30 of Astoria's homes went back to the bank. A remaining 60 homes are still for sale, going for less than what they cost to build.

“For us right now, it's almost like beating yourself in the head. Why would you build a house if you know you are going to lose money on it? Aren't you better just sitting on the sidelines and waiting until things get better,” said McCormick.

As more and more homes went into foreclosure, it became much cheaper for buyers to look at bargain foreclosures than more expensive new homes. Eventually sales just fell away.

So the company has halted construction and cut their employees from 170 to just 17, “You pair down as much as you can and the term that we use is ‘hibernation' — that we say we are not going to go away but we are just going to close ourselves down.”

For now they focus on maintaining the neighborhoods they've created and work on new plans for the neighborhoods they will again create. McCormick says he fully expects the remaining homes to sell even before the market improves.

Once the market does improve, he is working to make his newer homes appealing to buyers as they once again wade into the home buying pool.

Two people are dead after a fatal crash that occurred Wednesday night just after 10 p.m. at West Lake Mead Boulevard and Fiesta Henderson Parkway.

According to the Nevada Highway Patrol, one person died at the scene of the accident, and the other person died while en-route to Sunrise Hospital.

A young man responsible for a deadly car crash will spend the next several months in a youth boot camp. A judge sentenced 16-year-old David Jensen Thursday for his part in an accident that left 15-year-old Olivia Hyten dead.

In addition to serving time in a boot camp, Jensen has been sentenced to 500 hours of community service, probation until he's 21-years-old and no driving until he's 21-years-old.

Police say Jensen was going 62 miles per hour the night Olivia Hyten died. The speed limit in the Seven Hills neighborhood where the crash happened is 25 miles per hour. Jensen was behind the wheel of his truck when he lost control, killing his passenger, Olivia Hyten. In court, Jensen stood up, addressed Hyten's grieving family, and apologized.

“I just wish Olivia could be here with us, and if it could have been my life that was taken, I would have rather it that way. I just feel so sorry for everyone,” he said.

The crash hit Coronado High School hard, raising awareness about dangerous driving.

“They began to call out and asked him to stop, and he chose instead to keep going despite their pleas,” said Deputy District Attorney Mary Brown.

But Olivia's life was cut too short, too soon.

“My life has been forever changed. Olivia was my only sister. We were both adopted. When I was three, I begged for a sister and I finally got one,” said Ajah Hyten.

Olivia's aunt recalled seeing Jensen the day after the accident, when she believed he was more worried about his truck's bumper left on the scene, “You tried to say you're sorry again, and all I said to you as you started to walk off is that I could not believe your parents would let you out of the home less than 24 hours after an accident that killed someone. I was in shock.”

“I really warned her not to hang out with you. It was her choice to get in your truck. She paid the ultimate price,” said Olivia's mother Teresa Brandise.

Jensen will pay a smaller price, spending the next six months locked up.