Property Values

* I attended the Airport Commission’s meeting at Van Nuys on Jan. 27 and heard residents from the area attempt to argue that their property values have declined because of the airport.

Local media reports have shown that San Fernando Valley property values have skyrocketed in the past year! Home and condominium prices are up in the Valley between 15% and 25%. Conventional wisdom these days says it’s a seller’s market.

When people are upset with their neighborhood, they try to blame someone for bringing the property values down. In the case of Van Nuys Airport, those living in the area are experiencing rising property values.

I guess they owe Van Nuys Airport a thank you instead of blame.

RICHARD HODKINSON

President, Elite Aviation Inc.

Agua Dulce