I recently read that Oxnard is in discussion with real estate developer Casden Properties, LLC, to build 201 single-family homes on the vacant land at the corner of Ventura Road and Vineyard Avenue with an additional 125 townhomes on an adjacent site.
Apparently the Oxnard Planning Commission has not looked at the condition of real estate in Oxnard if they are entertaining discussion for more real estate development.
On my street alone, there are seven houses for sale. A recent review of a public Internet site, www.realtytrac.com, reveals that there are 1,879 houses available for sale within the city limits of Oxnard. Of the 1,879, 822 are in pre-foreclosure; 250 are available for auction; 764 are in foreclosure; 27 are for resale; and 16 are for sale by owner. Some of the homes listed on this site are located in the same neighborhood as the proposed build site.
With this situation, who does the Planning Commission expect will have the resources to purchase these homes, when families throughout the city do not have the resources to keep the homes they currently have?
RiverPark community has scaled back its building frenzy. It is also offering massive price reductions to potential new homebuyers in order to sell houses. That alone indicates that people aren’t buying homes, and good financial planning dictates that building more homes is not a financially sound move. The majority of people do not have the resources to buy new homes.
I think the Planning Commission needs a reality check.
— Sharon Schumann, Oxnard
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