Real estate slump hits the (Red Rock) island market

The non-sale of Red Rock Island in San Francisco Bay (in the shadow of the Richmond-San Rafael Bridge) has become a news story again, courtesy of the Associated Press. Latest hook: the price is reduced to $5 million. Previous hook: when the price was reduced in January to $9 million. The island has been for sale for years and, before January, the asking price had been $22 million.