Home values

Dear Editor:We moved to Downey five years ago since a lot of construction was happening and we thought the city would be nice to live in and thought it was a good investment and raise values. Now we only see homes dropping in value like nowhere else in the state. Homes listed for $1.6 million in 2006 are now sold for $685,000. Bought back by the current owner's family or friends, huh? This is just how you push down our home values of the honest people. There is no one overseeing these scams that hurt honest people. It's the American way to make a buck. Forget the rest. -- Robert van der Velde, Downey

********** Published: August 5, 2010 - Volume 9 - Issue 16