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Do the Collapse

...Price collapse, that is, at Oakland's Lake Park Crescent condo development. The Trib is reporting that six remaining unsold units at the new community have been slashed to roughly half their original list prices: ground-floor one-beds with patios are now just $109,800. Two- and three-bed duplexes start at $229,800, down from $498,000. Sales manager Robbi Davis takes pains to note that more than 20 units have sold in the past year, so this isn't borne of great panic. A big deal like this, in closing hours of Phase I, is possibly designed to whip up interest in the development as it gets set to enter Phase II with considerably more units in play (though largely rental). [Trib, previously]