Tuesday, April 1, 2008

Chinatown Luxury Condo Craze

By Chris Thompson
Tue, Apr 1, 2008 at 7:45 AM

The San Francisco Chronicle's James Temple pens a fun story about the downtown Oakland condo market, in which a luckless luxury condo developer opens his units for bid in an auction last Sunday. Alas, for all the frenzy, his apartments sell for roughly a third less than the asking price, which is considerably less than the average drop-off in real estate value. Still, Temple's piece paints a fun picture of real estate lust in even what may be the worst of times, and readers are advised to pay the story a visit.

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