I too live in Oakland — happy to see local involvement. I think, though, that there are unknowns in the Oakland situation. It was recently reported in SFgate that Oakland is now the hottest real estate market in the nation. So we know that many homes are being bought. I have always thought that Oakland, being central in the Bay Area and much more congenial climate-wise, has been an unknown bargain.
We don’t know whether they are being bought with righteous loans to be lived in — in which case, gentrification will ensue (which has negatives, but also tends to push crime out). Or whether they are being bought by Blackstone, et. al. to be rented, in which case, yeah, the local scene is also part of Holly’s prediction. I hope not, but am afraid that Blackstone is smart and has sniffed out the unknown bargain.