Chinatown Luxury Condo Craze



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.